The two-day nationwide strike referred to as by the United Forum of Bank Union in protest towards privatisation of the federal government banks started on Monday. The chief of a significant union claimed complete success impacting the clearance of two crore cheques/devices value about Rs 16,500 crore.
“On an average, about 2 crore cheques/instruments worth about Rs 16,500 crore are held up for clearance. Government treasury operations and all normal banking transactions have been affected,” C.H. Venkatachalam, General Secretary, All India Bank Employees’ Association (AIBEA) stated.
According to him, about 10 lakh bank staff struck work signalling their negation of the federal government’s determination to privatise its banks.
The Central authorities has determined to privatise two public sector banks along with IDBI Bank, and the United Forum of Bank Unions (UFBU) had given the strike name in protest.
“As per reports reaching us from various states, banking operations have been affected and paralysed in all centres,” Venkatachalam stated.
“Most of the Branches could not be opened. Clearing of cheques could happen since branches are not accepting cheques for clearance as branches are closed,” he stated.
He stated the strike would proceed on Tuesday to save lots of the banks from being taken over by personal vested pursuits.
“The strike to save the savings of our people. The strike is to ensure more loans to priority and weaker sections,” Venkatachalam added.
He stated the banks are making operational income and they’re displaying web loss owing to provisions as a result of the company debtors default.
He stated throughout 2019-20 the working income of presidency banks have been Rs 1,74,336 crore, provision for uncertain money owed Rs 2,00,352 crore and the web loss stood at Rs 26,016 crore.
The UFBU, an umbrella physique of 9 unions within the banking sector, had given the strike name.
(With IANS inputs)
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