Banking operations take a hit as employees go on strike

State-owned banks nationwide strike hits banking operations

State-owned bank employees went on strike today, halting the banking operations. The day-long strike was called by nine bank unions comprising of officers, bank officials as well as clerks. The demands behind the strike are related to wages. According to All India Bank Employees Association (AIBEA) General Secretary CH Venkatachalam, around 10 lakh bankers joined the strike today.

The other demands included compensation for extra work put in by the bank workers during the initial process of demonetisation, criminal actions against wilful defaulters, recruitment in all banking positions. The union also protested against government proposed labour reforms and outsourcing of permanent jobs.

Top private lenders like ICICI Bank, HDFC Bank and Axis Bank however will continue to function normally but cheque clearing operations could be hit.

The employees of the IT departments of some of the participating state-owned banks were exempted from the strike. The online operations ran smoothly.

A conciliation meeting was held with the bank management association on February 21st which failed to come with any positive result and hence the strike was called.





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