2-day nationwide bank strike begins, salary, ATM withdrawals may take a hit

New Delhi: Banking services at public sector banks across India were interrupted Wednesday as bank employees went on a two-day nationwide strike against the meagre 2% salary hike offered by Indian Banks Association.

However, operations in private banks, such as ICICI Bank, HDFC Bank, Axis Bank, were almost normal, barring few activities including cheque clearance.

Since the bank strike coincides with the month-end, salary withdrawals from branches are likely to get affected. Some ATMs may also take a hit. Besides, deposits in bank branches, renewal of fixed deposits, government treasury operation, money market operation are likely to be impacted by the bank strike.

As several rounds of talks between banks and employee unions did not make any headway, the United Forum of Banking Unions, an umbrella body of nine bank unions, has gone on strike against the proposed wage hike of 2% as against 15% given last time, said C.H. Venkatachalam, general secretary of All India Bank Employees Association (AIBEA).

“It is kind of an insult to the employees of public sector banks...to be offered this kind of meagre hike. We had no other option but to go on strike, forgoing two days’ salary,” said Ravinder Gupta, joint general secretary, All India Bank Officers’ Confederation (AIBOC).

Success of all government schemes like Mudra, Jan Dhan Yojana and demonetisation were ensured by public sector bankers but the reward is just 2% hike, Gupta said, adding it is gross injustice to bankers who have worked very hard for nation-building.

“Nearly 10 lakh bank employees are participating in the nationwide strike as part of our democratic right by forgoing our salary,” said Venkatachalam and hoped that good sense prevails. There are about 85,000 branches of 21 public sector banks across India, accounting for 70% of all banking operations in the country.

Most of the PSU banks, including State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda, have already informed their customers about disruption of services due to the bank strike.