Published: Wed, August 23, 2017
Worldwide | By Sean Reid

Bank operations paralysed in Bengaluru as public banks observe day-long strike

Bank operations paralysed in Bengaluru as public banks observe day-long strike

Franco said that all attempts to hammer out solutions to the demands raised by the unions bore no fruit, and hence, UFBU which claims a membership of almost 10 lakh across banks, made a decision to proceed with the proposed strike on August 22.

CH Venkatachalam, General Secretary, AIBEA told IANS that around 12 lakh financial instruments valued around Rs 7,300 crore would not be cleared.

A banking executive said netbanking will remain unaffected too.

Bank services at Public sector will be affected by the strike on Tuesday. Businesspersons and other traders also had to return disappointed as the exchange of cheques and other transactions could not be done.

Most banks have already informed their customers that functioning of branches and offices will be impacted if the strike takes off. He said, "Wages and service conditions in the banking sector are governed by the industry level Bipartite Settlement signed by the Indian Banks' Association (IBA), Workmen Unions and Officers Associations operating in the banking sector".

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All India Bank Officers' Association's (West Bengal) General Secretary Sanjay Das said employees and officers from cooperative and grameen banks including regional rural banks also participated in the strike and private banks' branches were mostly closed as their employees supported unions' demand.

Thousands of employees of state-run banks began day-long strike in cities and towns across Karnataka, affecting cash and other transactions for the day, said a report from Bengaluru.

The demand of UFBU includes, it aims to stop the merger of banks and their privatization. "There was no assurance from the government and the management of banks". The protesters also staged picketing to prevent high officers from joining work. Almost 10 lakh employees of banks from across the nation will take part in the strike.

Bankers will be on strike nationwide and this will stop working in banks across the country.

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