Bank Union Strike: Clearance of cheques worth Rs 21,500 crore to be impacted

Bank Union Strike

Bank unions have claimed that clearance of cheques worth Rs 21,500 crore will not done Wednesday due to the bank employees’ strike.

Bank Union Strike

Five trade unions including AIBEA, AIBOA, BEFI, INBEF and INBOC, employees of RBI, co-operative banks, RRBs have joined the National General Strike called by the central trade unions – INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF and UTUC along with various independent federations and unions in different sectors are taking part in the protest against the alleged anti-worker labour policies of the centre.

C H Venkatachalam, general Secretary, All India Bank Employees Union said that consumers will not be able to deposit or withdraw any cash as ATMs will also be affected due to the strike.

In the Clearing Grids, about 28 lakh cheques worth about Rs 21,500 crore will be stagnant due to the strike, he said.

“In the banking sector, we find that the government’s policy is privatisation and unwarranted merger of banks despite our vehement protests. On the other hand, the main issue of recovery of corporate bad loans is being ignored and concessions are being given to them while service charges are increased for the common people,” he said.

The unions’ demands comprise strengthening of public sector banks (PSBs), no privatisation, no closure of bank branches, and opening more branches in unbanked, rural areas. The unions allege that post the merger of associate banks with SBI, 6,950 branches have been closed and amalgamated.

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