23 August, 2017
Banking operations were hit across the country on Tuesday with almost 10 lakh employees of state-run banks striking to protest against the government's proposed move of consolidation, among other issues.
"We are sorry for the inconvenience caused to bank customers but they should appreciate that our strike is to defend their interests and common people's interests", Venkatachalam said.
Bank Strike: The United Forum of Banking Unions (UFBU) declared a national strike on all the banking union firms on August 22nd.
Sudhir said, "One lakh officials and employees working in 17 thousand branches of 56 rural banks of the country will be on strike".
As many as 21 public sector banks control 75 per cent of the total banking business.
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Bank employees under the UFBU banner observed a dharna within the campus of State Bank of India on K G Road between 10.30 am and 12.30 pm. "There was no assurance from the government and the management of banks", the AIBOC General Secretary D T Franco has been quoted as saying.
The strike call was given by all unions under the aegis of the United Forum of Bank Unions (UFBU) opposing the anti-people banking reforms, writing off of corporate NPA and increase in different service charges.
AIBEA said, "Privatization of banks means that 80 lakh crore rupees will be privatized by the general public in our banks".
Bank mergers would result in closure of bank branches as is happening in the SBI now after merger of Associate Banks. Apart from the public sector banks, some of the old generation private sector banks such as Karnataka Bank, Dhanalaxmi Bank and Apex Bank also joined the strike, Narasimha Murthy, an office bearer of Indian National Bank Employees Federation (INBEF) told DH.
The UBFU has demanded the implementation of Parliamentary Committee, recommendations on the recovery of NPAs, stringent measures for recovery of bad loans, withdrawal of proposed Financial Resolution and Deposit Insurance (FRDI) Bill.