Thaindian News

New Delhi, Dec 16 (IANS) Banking operations across the country were affected Wednesday, as an estimated 450,000 workers of state-run and private banks proceeded on a daylong strike, although people were able to withdraw money from automated teller machines.
The All India Bank Employees’ Association (AIBEA) and the All India Bank Officers’ Association (AIBOA) called the strike to protest moves to consolidate the operations of state-run banks. Their talks with the government had failed Tuesday.

“Our strike is to protest the proposed merger of State Bank of Indore with its parent. But we are also opposing the merger and consolidation of public sector banks,” said Balakrishna Shetty, a senior office bearer with the AIBOA in Bangalore.

“These mergers are not in national interest. It not only amounts to job loss, but also hampers banking services for small customers like agri business and small and medium enterprises,” Rajen Nagar, national president of AIBEA, told IANS in Kolkata.

“Twenty seven state-run banks and around a similar number of private sector banks are keeping their shutters down,” Nagar said, adding: “We want extension of public sector banks, not merger.”

In most cities across the country, while banks remained opened, services were severely affected, particularly those related to customer services and treasury operations. Money market operations were normal.

From Chennai to the national capital and from Kolkata to Mumbai long queues were seen of people outside cash dispensing stations of several banks, seeking to withdraw money.

The matter was also raised in parliament where opposition parties said trade unions will be forced to intensify their agitation if the government does not fulfil their demands.

“There is a strike against merger of banks and backdoor moves towards privatisation through outsourcing,” Tapan Sen of the Communist Party of India-Marxist said in the Rajya Sabha, as other members raised their hands in support.

Sen also sought proper implementation of labour laws and the roll back of steps toward privatisation of public sector banks and state-run enterprises, besides seeking social security for unorganized workers.

In August, over a million employees of state-run banks went on a two-day strike over better pension and wages, inconveniencing both individual and corporate customers, as automated teller machines had also run out of cash by the end of the first day.

The bank employees have also strongly protested moves by the government asking bank managements, especially those with smaller operations, to consider consolidations through mergers.