Banking operations in the country were impacted severely with employees of public sector banks going on a two-day nationwide strike from Thursday over wage revision. However, 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 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 on Wednesday, 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 because of 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, said.
"In Rajasthan, the strike will affect business worth Rs 1,600-1,800 crore (Rs 16-18 billion) a day and some 25 lakh (2.5 million) customers will have to suffer," he said.
Image: Banking operations in the country were impacted severely with employees of public sector banks going on a two-day nationwide strike from Thursday. | Photograph: Sahil Salvi
