Chqs/instruments worth Rs 16,500 cr held up as 10 Lakh Bank Employees go on strike

Hyderabad:Banking operations have been affected and paralysed across the country as nearly 10 lakh bank employees, officers and Managers went on two-day nation-wide strike on Monday, at the call of United Forum of Bank Unions (UFBU) to protest against the announcement by the Central Government to privatise the Public Sector Banks (PSBs).

UFBU is the umbrella organisation consisting of 9 bank trade unions like AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.

In view of the decision announced by the Union Government in the Budget that in addition to IDBI Bank, two public sector Banks would be privatised, UFBU has given the call for agitation and strike for two continuous days on March 15 and 16, All India Bank Employees Association (AIBEA) General Secretary Ch Venkatachalam told UNI.

He said in the conciliation meeting held by the Additional Chief Labour Commissioner S C Joshi on March 4th, 9th and 10th, from UFBU we offered to reconsider the strike provided the Government would reconsider their decision.

Mr Venkatachalam said the government did not agree to the UFBU offer.Hence the strike has been forced upon us, he added. (UNI)