Strike hits banking operations nationwide

05 Aug 2011

1

Banking operations across the country have been affected today as some one million staff went ahead with their planned one-day strike in protest against the government's move to sell stakes in state-run lenders, capitalise these banks through World Bank loans, and demanding a host of welfare schemes.

"Nearly 10 lakh bank employees in state run and private sectors, including foreign banks, have struck work today. The nationwide response for the strike call is good," C H Venkatachalam, convener of the United Forum of Bank Unions that is spearheading the strike, said in Chennai.

Vekatachalam said employees are on strike to protest outsourcing of bank jobs and attempts to impose ''anti-employee'' recommendations of the Khandelwal Committee. In addition, there are pending issues related with pension and regulated working hours for officers.

"Cheque clearing operations have also been impacted," said the senior office bearer of the forum, which is an umbrella body representing nine unions in the banking industry, but admitted that some private banks were functioning.

"ICICI Bank and HDFC Bank are functioning. We do not have a presence in them," he said.

"We find that the government's equity capital in public sector banks is being diluted and reduced and consequently the private capital in our public sector banks is increasing," said Harvinder Singh of the All India Bank Officers' Confederation.

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