Friday, 29 July 2016

One Day PSU Bank Strike Hit Operations

New Delhi: Around 80,000 branches and over a million of employees of public sector banks went on a one-day strike on Friday claiming to discontinuation of the proposed merger of ‘State Bank of India associates with the parent and other issues,’ reports revealed. Among the PSUs, only ICICI bank is working according to their schedule and has not taken part in the strike.


The United Forum of Banks Unions (UFBU) had previously informed its customers and stakeholders of the strike and stated that services like cheque clearance, withdrawal and cash deposit will get affected on Friday.
The normal banking operations were interrupted while traders were unable to complete transactions worth of Rs 26 lakh. Rs 19,000 crore worth of cheques could not be cleared, said C H Venkatachalam, United Forum of Bank Unions (UFBU) General Secretary.
On july 26, UFBU and Chief Labour Commissioner went for a conciliation meeting which ended futile. “The unions were ready for meaningful discussion, but the government only tried to justify their present policy decision on banking reforms and hence, there was no meeting point, said Venkatachalam.


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