Mumbai: With employees striking work to protest against government plans to merge public sector banks and allow 74 per cent FDI in banks, banking operations all over the country were partially affected on Tuesday.

According to the United Forum of Bank Unions, which called the strike, employees of all public sector and old private sector banks participated in the strike. However, new private sector and foreign banks reported normal working.

Some bank branches were open but with skeletal staff. According to RBI, cheque clearing was seriously hit by the strike. The total value of cheques cleared in Mumbai circles on Tuesday amounted to less than 25 per cent of the normal daily average.

The strike also affected the forex market, which did not see much action. However, the bond market was not affected, as PSU banks do not trade heavily in government securities.