2-Day Bank Strike may affect transactions worth Rs 20,000 Cr: Assocham

KalingaTV News Network

New Delhi: The Associated Chambers of Commerce and Industry of India (Assocham) on Thursday said the two-day nationwide bank strike may affect customer transactions worth up to Rs. 20,000 crore urging the United Forum of Bank Unions (UFBU) to call off the strike.

The Industry chamber also urged the Union Government to come up with a stimulus plan for restoring the health of public sector banks.

“Considering such a precarious situation, we at Assocham would urge the government to come up with a stimulus plan which must include restoring the PSBs to health,” Assocham Secretary General D S Rawat said.

Ten lakh bank employees from 21 public sector banks went on a two-day strike starting Wednesday to press their demand for salary hikes.

As the bank strike coincides with the month end, salary withdrawals from bank branches are likely to get affected. Other banking services like ATM transactions, deposit in branches, FD renewal, government treasury operation, money market operation would see the impact of the strike.

In the last wage revision in 2012, which was for the period between November 1, 2012, and October 31, 2017, bank employees got a 15 per cent wage hike and AIBOC Joint General Secretary Ravinder Gupta said the unions were expecting a better salary increase this time.

However, operations at new-generation private banks such as ICICI Bank, HDFC Bank and Axis Bank were almost normal, barring few activities including cheque clearances.

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