Bank services hit as over million employees go on two-day strike

Banking operations across the country were crippled as over a million employees of nearly 21 public sector banks went on a two-day nationwide strike starting Wednesday to press for wage revision.

Protesting employees, under the aegis of the United Forum of Bank Unions (UFBU), an umbrella body of nine unions, are opposing a “meagre” 2% salary hike offered by the Indian Banks Association (IBA), which represents management.

In the last wage revision in 2012, the bank employees got a rise of 15%.

As the strike coincides with the month-end, salary withdrawals from branches are likely to get affected. Operations like deposits, FD renewals, government treasury operations, money market operations were hit by the strike.

An RBI official said some digital banking work was done through electronic systems like the RTGS but the functioning of the banks’ servers were hit.

Digital banking comprises about 5% of the total banking, he said.

Most of the banks, including State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB), have already informed their customers that functioning of branches and offices will be affected in the wake of the strike. Operations in the private banks like ICICI Bank, HDFC Bank, Axis Bank were, however, almost normal, barring few activities including cheque clearance.

NEW DELHI: