Banks to remain open, strike deferred

A nationwide strike planned by banks on Tuesday and Wednesday has been deferred after a section of the public sector bank employees on Monday called off their proposed two-day nationwide strike following the intervention of the Delhi High Court.

Bank employees protesting the merger of the associate banks of Stat Bank of India (SBI) and privatisation of IDBI Bank, was scheduled to strike work on 12 and 13 July.

However, the Delhi High Court has restrained the employees from proceeding with the proposed strike.

"In view of Delhi High Court restrain order our strike on July 12 and 13 stands deferred," All India Bank Employees' Association general secretary C H Venkatachalam said.

Earlier, the employee union had announced a protest strike against the proposed merger of SBI associates and privatisation of IDBI Bank.

All India Bank Officers' Association and State Sector Bank Employees' Association had also announced their support to the strike.

The high court order comes on a plea by State Bank of Patiala and other four subsidiary banks of SBI.

The HC has restrained State Sector Bank Employees Association (SSBEA) and All India Bank Employees' Association (AIBEA) from proceeding with the two-day strike till the next date of hearing.

The matter will come up for further hearing on 20 July.

The five associate lenders of SBI are State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Mysore, State Bank of Patiala and State Bank of Hyderabad.