Bank strike interrupts transaction of Rs 18,600 cr in single day

New Delhi, 17 Dec (KNN) The several state owned banks are on a nationwide strike since Thursday for two days to protest against government’s decision to privatise several banks in the country.

Banks such as State Bank of India (SBI), the United Forum of Bank Unions (UFBU), are also a part of this association.

The first day of the strike has affected banking operations across India, as its impact is seen on services such as deposits and withdrawals at branches, cheque clearance and loan approvals.

CH Venkatachalam, General Secretary, AIBEA said, “About 20.4 lakh cheques worth INR 18,600 crore failed for transaction on Thursday.”

Around 7 lakh bank staff members are participating in the two day strike across India.

The strike has also impacted 1 lakh branches of banks and regional rural banks.

SBI and other government banks such as Punjab National Bank (PNB), Central Bank of India, and RBL had already released a circular stating that the operations are likely to take a hit due to the disruption.

SBI on Monday urged its employees to reconsider their decision to go on a two-day strike as it might hurt the interest of customers and the bank.