Mumbai: Cheque-clearing operations came to a standstill on 16 April as the employees of public sector banks, financial institutions and the Reserve Bank of India (RBI) joined the all-India strike called by various trade unions to protest against the anti-labour polices of the government.

Money and forex markets reported thin trading with private and foreign banks operating as usual. Most public sector banks more or less stayed away from the market, said a dealer with a private bank.

RBI employees also participated in the strike. According to an RBI spokesperson, about 50 per cent of employees attended office.

Clearing-house operations were totally paralysed. Cheques worth crores of rupees were held up, said an official of one of the trade unions participating in the strike.