PSU bank employees on strike; ATMs, pvt sector banks working

New Delhi, Aug 6 (PTI) Banking operations in India were
impacted severely with employees of public sector banks going
on a two-day nationwide strike from Thursday over wage
revision, but ATMs and major private sector banks provided the
much-needed relief to customers.

Reports received from various centres, including
financial capital Mumbai, Delhi, Kolkata and Chennai, said
cheque clearing operations, foreign currency as well as money
market operations and government transactions by the public
sector banks were crippled.

"The strike has been very very successful. Operations in
most of the banks have been completely hit," United Forum of
Bank Unions (UFBU) convener C H Venkatachalam told PTI.

However, customers relied on ATMs for their cash needs,
reports said. Major private banks like ICICI Bank and foreign
banks like Citi Bank and Standard Chartered also partly offset
the impact of the strike on customers.

But, the strike had an impact on banking operations as
public sector banks account for about 70 per cent of the
banking business in the country.

Also, employees of private sector banks like Federal
Bank, Karnataka Bank, South Indian Bank, ING Vysya Bank and
Lakshmi Vilas Bank participated in the strike because some of
their staff are governed by the wage settlement process with
the Indian Banks Association.

Besides wage hike, employees are pressing for a second
pension option for those who had earlier opted for a provident
fund, appointing the next of kin of a deceased staff member on
compassionate grounds, etc.

The UFBU alleged that employees were forced to go on
strike as the Indian Banks' Association did not accede to the
union's demand for a wage hike.

The IBA has further reduced the rate of wage hike from
the proposed 17.5 per cent to 13 per cent, Venkatchalam said.

Unions claimed that banking operations have been
completely paralysed across the country. Venkatchalam said
ATMs in many parts of the country went dry.

However, in many ATMs not much of a queue was seen, since
many customers withdrew cash yesterday, the day being 'Raksha
Bandhan'.

Reports from financial capital Mumbai said banking
operations in public sector banks in the metropolis have been
affected with almost all branches of PSU banks wearing a
deserted look.

Employees shouted slogans outside some branches in the
city.

In Delhi, most branches of PSU banks had their shutters
down but officers above the chief general manager rank came to
office at some places.

Reports from Left-ruled West Bengal and Kerala said
banking operations were crippled by the strike.

The Reserve Bank Workers Union and Reserve Bank
Employees Association, Kolkata, also observed a day's strike
to show solidarity with the striking bank unions.

Reports from Kerala said branches of almost all banks
remained closed.

Employees in private new generation banks and
co-operative banks, however, did not participate in the
strike.

Reports from Chandigarh said functioning in public
sector banks in the Union Territory as well as Punjab and
Haryana has been disrupted.

The branches in the region looked deserted with branch
managers alone remaining in offices.

Private sector banks functioned normally.

According to reports from Jaipur, unions claimed that
the banking business worth Rs 1,600-1,800 crore is estimated
to be affected in Rajasthan due to the strike.

"About 2,200 branches of public sector banks are closed
in the state following the strike, in which about 35,000
employees are participating," Bhupesh Chawla, Coordinator of
the United Forum of Bank Unions (UFBU), said.

"In Rajasthan, the strike will affect business worth Rs
1,600-1,800 crore a day and some 25 lakh customers will have
to suffer," he said. PTI TEAM
AM
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