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Banking Services hit in India, as Strike enters Day 2

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TNI Bureau: The banking services were paralysed in the country as the bank strike entered the second day today. The protest may continue till Friday as per the sources.

The bank unions decided to go on a two-day strike opposing the proposed banking sector reforms and outsourcing of non-core activities. The banking operations including cash transactions, cheque clearances, foreign exchange dealings, even ATM have been affected due to the strike, which began on Wednesday.

Around 10 lakh employees joined the strike called by the United Forum of Bank Unions, an organisation of nine unions of PSU banks.

The employees have been protesting against the proposed Banking Sector Laws Amendment Bill, which seeks to remove restrictions on voting rights of foreign shareholders and increase voting rights of private investors in the public sector banks. They are also demanding pension revision, housing loan revision and five-day working week.

Even money could not be withdrawn from the ATMs of all public and private sector banks as the employees are on strike and most of the counters remained closed as security guards of the ATMs belong to the unions participating in the strike.

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