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Bank strike Day 2: Over 2 crore cheques worth Rs 16,500 crore held for clearance, ATMs run out of cash

The nine bank unions-led strike entered its second day, affecting the several key services across public sector banks (PSBs) on Tuesday. About 2 crore cheques worth Rs 16, 500 crore were not cleared across the country, according to the data provided by bank unions.

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The nine bank union-led strike entered its second day, affecting the several key services across public sector banks (PSBs) on Tuesday. About 2 crore cheques worth Rs 16, 500 crore were not cleared across the country, according to the data provided by bank unions.

The All India Bank Employee Association(AIBEA) General Secretary C.H. Venkatachalam said that cheques could not be processed since branches are not accepting cheques for clearance as they are closed due to strike. On average about 2 crore cheques/instrument  worth about Rs 16,500 rupees are held up for clearance at the three national grids in Chennai, Mumbai and Delhi, he said.

On the first day, the strike saw 100 percent participation from scale I, II, III bank employees. More than 10 lakh bank employees had participated and made it a total success. Normal banking services were affected because of the strike, added AIBEA General Secretary.

In Maharashtra, around half a lakh employees of public sector banks, old generation private sector and foreign banks did not attend work which affected the banking services. Around 86 lakh cheques/ instruments worth Rs 6,500 crore were not cleared in Mumbai on the first day of strike, the bank union leaders have claimed.

Talking about their future course of action, the All India Bank Officers Association’s (AIBOC’s) General Secretary Sowmya Dutta said that if the government fails to listen to them, they will go for an even bigger, indefinite strike, on the lines of the ongoing farmers’ agitation going on since November last year. 

Several key services like deposits, cash withdrawal, cheque clearances and other business related transactions were hit. Following which banks directed their customers to use their digital modes like internet and mobile banking for transactions. Many ATMs were also out of cash.

The United Forum of Bank Unions, an umbrella body of nine bank unions of public sector banks, has called for a two-day nationwide strike which began on Monday, opposing the Centre’s  policy to privatise the public sector banks and its retrograde banking reforms.

The Union Finance Minister Nirmala Sitharaman in Budget 2021-22 had announced the privatisation of two more public sector banks as part of the Centre’s disinvestment drive to generate Rs 1.75 lakh crore. Earlier, it has privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019, and has merged 14 public sector banks in the last four years.

Read Also: Railways Minister Piyush Goyal says Indian Railways will never be privatised

All the nine bank unions, All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA), Indian National Bqank Officers’ Congress (INBOC), All India Bank Officers’ Confederation (AIBOC), Bank Employees Federation of India (BEFI),  National Confederation of Bank Employees (NCBE),  Indian National Bank Employees Federation (INBEF), National Organisation of Bank Officers (NOBO) and the National Organisation of Bank Workers (NOBW) are part of the UFBU. 

India News

LPU rape rumour row: Students say video statements were scripted

The Lovely Professional University controversy intensified after three students featured in a university video alleged that they were coached and their statements were used without consent.

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The controversy at Lovely Professional University (LPU) in Punjab has intensified after three students featured in a university clarification video later alleged that they had been instructed what to say and that their statements were used without their consent.

The controversy followed protests at the university over unverified claims that a female student had been sexually assaulted and later died by suicide. Police have not confirmed that such a crime took place.

Students challenge university’s clarification video

LPU Registrar Dr Monika Gulati had released a video addressing the unrest and featured three students who live in Room 504 of Girls’ Hostel 3, which had been mentioned in claims circulating among students.

In the university’s video, the three students denied that any such incident had taken place in their room and asked students and police not to disturb them.

The registrar subsequently said the unrest was linked to false and fabricated rumours and described the developments as a conspiracy to defame the university.

However, a separate video later emerged in which the same students said they had been instructed by the LPU administration about what to say.

One of the students alleged that they were told to record the statements and that part of the video was edited before being posted on Instagram. The student also said their consent had not been taken.

Another student said they had no involvement in the alleged incident and asked people to leave them alone.

What triggered the LPU protests

The protests began after claims spread among students that a female student had allegedly been sexually assaulted on campus and had subsequently died by suicide.

One protesting student alleged that the woman had been assaulted by a construction worker and later sent home by the university authorities. The student further claimed that the woman’s roommate subsequently informed other students that she had died by suicide.

These claims have not been independently confirmed by police.

Deputy Inspector General of Jalandhar Range Naveen Singla said students had claimed that a girl in a hostel had been sexually assaulted around three days earlier and had since returned home. Police registered a case based on that statement, according to the report.

Earlier, Kapurthala Senior Superintendent of Police Gaurav Toora said police had no information about any such crime being reported to them.

Protests turn violent

The protests at LPU escalated, with students vandalising parts of the campus and setting some objects and sections of the building on fire.

Videos showed groups of students protesting and demanding justice. Some students also damaged window panes and flower pots, while a group blocked the Jalandhar-Phagwara national highway, resulting in significant traffic disruption.

Police said an assessment of the property damage was underway and that legal action would follow.

LPU separately urged students to ignore what it described as false and misleading rumours and asked them to remain inside their hostels or residences and avoid involvement in the unrest.

The developments have left the central allegation unresolved, with police investigation continuing and the university maintaining that the claims circulating on social media were rumours.

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3-day bank strike deferred after talks between unions, banks’ association

The three-day nationwide bank strike scheduled to begin on Monday has been deferred after the United Forum of Bank Unions held talks with the Indian Banks’ Association.

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The three-day nationwide bank strike scheduled to begin on Monday has been deferred following a meeting between the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA) on Sunday night.

The development came after the two sides held talks ahead of the planned strike, which was expected to affect banking operations across the country.

The UFBU, an umbrella forum representing bank unions, had called for the three-day nationwide strike. The action was scheduled to begin on September 28.

Bank strike deferred after Sunday meeting

The decision to defer the strike followed an eleventh-hour meeting between representatives of the UFBU and the IBA on Sunday night.

The proposed strike had raised concerns about disruption to banking services for millions of customers. With the strike now deferred, the immediate three-day disruption that was scheduled to begin Monday will not take place as planned.

The development comes after earlier efforts by the government and bank managements to persuade the unions to defer the strike. The unions had been seeking, among other demands, the introduction of a five-day banking system.

What were the bank unions demanding?

The UFBU’s demands included the introduction of five-day banking. Other issues raised by the unions included improvements in pension-related matters, a uniform dearness allowance formula for pensioners and an option for employees covered under the National Pension System to move to the old pension scheme.

The proposed strike had been scheduled for September 28, 29 and 30. The timing had also raised concerns because September 26 and 27 were a Saturday and Sunday, respectively, while September 30 coincides with the half-yearly closing of banks.

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LPU students protest over reported rape allegation, police call it rumour

Students at Lovely Professional University protested over a reported rape allegation involving a worker, with police describing the claim as a rumour.

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Students of Lovely Professional University (LPU) in Punjab staged a protest after an allegation involving the reported rape of a student by a worker at the university surfaced.

The protest led to disruption around the university, with students taking to the streets and blocking the Jalandhar-Phagwara National Highway, according to the report.

The allegation triggered anger among students, who demanded action over the reported incident.

Police describe rape claim as rumour

Police, however, described the rape claim as a rumour, indicating that the allegation had not been established as a confirmed incident.

The distinction is important because the reported sexual assault allegation should not be treated as a confirmed rape unless investigators or other authoritative sources establish that fact.

The protests nevertheless continued as students sought clarity and action over the issue.

Protest disrupts traffic

The student demonstration also affected traffic on the Jalandhar-Phagwara National Highway. The protest brought attention to the allegations and the concerns being raised by students at the university.

With police calling the claim a rumour, further verification and investigation would be necessary to establish what actually happened.

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