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.
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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.