Banking ops remain disrupted on 2nd day of strike

Bank unions have been demanding pension revision, housing loan revision, 5-day working week

PTI | August 23, 2012



Normal operations in India's public sector banks, including cheque clearances and fund transfers, were on Thursday hampered for the second day because of the strike called by unions to protest against reforms in the sector and outsourcing of non-core services to private sector.

"The strike is total success all over the country. Banking services have been affected," All India Bank Employees' Association (AIBEA) General Secretary C H Venkatachalam said.

Normal banking operations, including cash transactions, cheque clearances, foreign exchange dealings were affected, he added.

Customers were depending more on ATMs as the bank managements had made advanced arrangement for loading the machines with cash.

AIBEA claimed that around 10 lakh employees and officers all over the country are participating in the strike.

Employees of 24 public sector banks (PSBs) and 12 private banks participated in the 2-day strike on Wednesday, which led to hampering of banking operations.

Unions are protesting against reform measures such as the 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 PSBs.

Bank unions have been demanding pension revision, housing loan revision, 5-day working week and human resource related issues, among others.
 

Comments

 

Other News

Gandhian movement after Gandhi failed: Ram Guha

The Gandhian movement in India, after Gandhi’s death, failed, says Ramachandra Guha, and blames Vinoba Bhave for it. But the movement found new, fertile grounds around the world and succeeded in bringing about a change in South Africa, the US and elsewhere. It is high time it returned home. Of cour

When religion, politics and Bollywood come together

Tavleen Singh, noted journalist and political commentator, has turned to fiction, with her debut novel ‘The Actor’ (HaperCollins India). Set in the near future, it has a superstar, Amit Singh, turning to politics, when the political landscape is dominated by prime minister Guru Gaynendraj

Cabinet approves setting up of Integrated Transport & Logistics Authority

The union cabinet, chaired by prime minister Narendra Modi, on Tuesday approved the setting up of a Special Purpose Vehicle (SPV), called Integrated Transport & Logistics Authority (ITLA), to strengthen research, planning, appraisal, monitoring and impact assessment within the broad domains of Transp

Why foundational literacy and numeracy is key to school education

Foundational Literacy and Numeracy (FLN) are often described as the building blocks of education. Yet, their significance goes well beyond a child’s ability to read a sentence, write a response or solve a basic mathematical problem. These foundational skills shape how children understand the world,

When police data becomes the algorithm

For decades, policing has followed a familiar sequence: a crime occurs, the police respond, an investigation produces records and those records become part of the institutional memory of the criminal justice system. Artificial intelligence is beginning to alter that sequence. Instead of merely recording

Before India voted, the framers worried about the referee

“We are making a Constitution forever and not only for today.” Shibban Lal Saksena said this in the Constituent Assembly on June 15, 1949. He was warning that a ruling party might one day choose a loyalist to run India’s elections. Seventy-seven years later, the Supreme Court is wrestli

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter