Two-day bank strike paralyses commercial activities in State

BHUBANESWAR: Protesting proposed amendments in banking regulations and outsourcing of jobs in the banks functioning in the country, officers and employees’ unions of nationalized banks in the State observed their two-day bandh from Wednesday in support of the nation-wide bandh call given by the public sector banks, private and foreign banks. Business and commercial activities across the State were paralysed and business worth hundreds of crores was affected on the day due to the strike.

Normal banking operations including cash transactions, cheque clearances, bank challans and foreign exchange dealings were affected. Among the other operations hit were normal in-house across the counter services for ordinary customers, export-import and local bills, operation of bank lockers and capital markets which are carried out through the banks.

Employees of more than thousand foreign banks, private banks and nationalised banks in the State participated in the strike. Various bank unions including Indian National Bank Employees Federation, All India Bank Employees Association and State Bank Employees Union and its workers staged demonstrations in front of their respective banks protesting the proposed amendments and outsourcing of jobs.

According to the strikers, the Banking Law Bill proposes to amend the Banking Regulation Act, 1949, which aims at merger of banks, allowing more private and foreign capital into banks, unrestricted voting rights, FDI in public sector banks and granting of licences to corporate houses to start new banks. The amendment would mean the closure of rural bank branches and lead to opening of ultra-small branches, thereby privatising rural banking operations through contractual business which would affect the rural banking, said leader of Bank Employees Union Ganesh Mishra.