The nationwide banking strike is in its second day today. Services that were disrupted yesterday are likely to remain disrupted today as well.
The two-day protest was called by an umbrella body of nine unions against Modi govt's bank privatisation and disinvestment policies. According to claims made by the United Forum of Bank Unions, as many as 10 lakh bank workers have taken part in the strike.
Operations were impacted on a large scale on the first day of the strike, with banking services like cash withdrawals, deposits, cheque clearing and remittances disrupted in government banks.
These services would in all probability remain non-functional today too. Government's treasury-related and business transactions are also also likely to remain disrupted.
Yesterday, 2.01 crore cheque instruments worth Rs 16,500 crore could not be cleared and remained pending at the three national grids — Delhi, Mumbai and Chennai, news agency PTI said citing bank unions' data.
Most reports quoted bank unions as saying that the strike was a success on Day 1. Before the strike, several government banks had notified their customers to use internet/mobile banking for transactions during the strike period.
Public bank ATMs reportedly went dry at numerous locations across the country. Only those ATMs that have private arrangements were operational.
Private sector banks like HDFC Bank, Axis Bank and ICICI Bank meanwhile functioned normally.
The two-day protest was called by an umbrella body of nine unions against Modi govt's bank privatisation and disinvestment policies. According to claims made by the United Forum of Bank Unions, as many as 10 lakh bank workers have taken part in the strike.
Operations were impacted on a large scale on the first day of the strike, with banking services like cash withdrawals, deposits, cheque clearing and remittances disrupted in government banks.
These services would in all probability remain non-functional today too. Government's treasury-related and business transactions are also also likely to remain disrupted.
Yesterday, 2.01 crore cheque instruments worth Rs 16,500 crore could not be cleared and remained pending at the three national grids — Delhi, Mumbai and Chennai, news agency PTI said citing bank unions' data.
Most reports quoted bank unions as saying that the strike was a success on Day 1. Before the strike, several government banks had notified their customers to use internet/mobile banking for transactions during the strike period.
Public bank ATMs reportedly went dry at numerous locations across the country. Only those ATMs that have private arrangements were operational.
Private sector banks like HDFC Bank, Axis Bank and ICICI Bank meanwhile functioned normally.
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14 Comments on this Story
 | Ashok Whyo3 hours ago These employers in strike have also contributed to the bad state of PSU banks. most of the employees do not care about the welfare of the bank which is people's property, rather they concern only about their job and they must be afraid as they will miss the lazy and laid-back working culture of PSUs. Good decision to make them private after 60 years of looting and corruption by politicians and bank staffs. Good BJP Govt!! |
 | Bitter Truth5 hours ago Government has exploited public sector banks by forcing them to open zero balance accounts, give out unsecured loans, not recruiting enough manpower and at the same time allowing private banks to cherry pick profitable business. Now that it's purpose is served it wants to sell them off. This government is in the pocket of cronies. |
| Raj Kamal5 hours ago Not everyone can afford the cost of private services ,until our economy is not reached to a next level ,how could you privatise everything. |