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Banking strike cripples business and commercial activities

Mumbai, Mon, 10 Feb 2014 NI Wire

The two day long total banking strike has completely crippled the country's financial capital with most of business and commercial activities remained ineffective.

Due to the strike, all branches of public sector banks, private banks, many foreign banks in the city, and the regional rural bank branches were deserted.

According to the United Forum of Bank Unions (UBFU), which is spearheading the agitation, the strike which started Monday 6 a.m. will end Wednesday 6 a.m.

According to All India Bank Employees Association (AIBEA) vice-president Vishwas Utagi, "The strike is total. Over a million employees in all these banks, barring the co-operative sector banks, are taking part with around 90,000 bank branches to remain shut for two days for our various demands.”

As many as 27 public sector banks, 18 private banks, eight foreign banks and 48 Regional Rural Banks across India have joined the strike call by the UBFU, an umbrella organisation with top bank employees and officers unions under its fold.

Utagi said that besides the pending issue of wage revisions, the UBFU is also opposing banking reforms like privatization of banks, mergers, issuing new bank licenses to corporate houses, rising non-performing assets and related aspects.

The UBFU includes AIBEA, National Confederation of Bank Employees, Bank Employees Federation of India, Indian National Bank Employees Federation, Indian National Bank Officers Congress, National Organisation of Bank Workers, All India Bank Officers Association, and National Organisation of Bank Officers.

Utagi said that the UBFU had gone on a strike Dec 18, 2013 for similar reasons.

(With inputs from IANS)


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