Over 10 Lakh Employees go on Nation-wide Protest

Hi,

Normal banking operations in public banks may be hit today as the United Forum of Banking Unions (UFBU) has called for a nationwide bank strike against the reforms proposed by the government. Nearly 10 lakh employees of public sector banks are believed to be a part of the nation-wide strike on Tuesday which has been called by unions under the aegis of the United Forum of Bank Unions (UFBU). The United Forum of Banking Unions (UFBU), the umbrella body of nine unions in the banking sector has given its nod for the strike to protest against bank consolidation, loan defaults by large borrowers and inadequate capital support for banks.
The Bank Employees will begin their protest at 10:30 AM at Jantar Mantar, New Delhi. As many as 21 public sector banks control 75 per cent of the total business. Banking services like deposits and withdrawals in bank branches, cheque clearance, NEFT and RTGS transactions will be affected. As per reports by PTI, operations at private lenders such as ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank are expected to be normal except delay in cheque clearances. Reports state that the Indian Banks’ Association (IBA) has already informed customers that functioning of branches and offices may take a hit if the strike takes off.

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