Banking operations partially affected as employees go on strike

Banking operations in public sector banks across the country were partially hit today as a section of employees were on one-day strike protesting banking reforms.

Country's largest bank SBI functioned normally as its employees stayed away from the strike.

In West Bengal, Kerala, Tripura and Tamil Nadu, services of public sector banks were hit to a great extent.

In metros, public sector bank branches were open as officer-level employees were not part of the strike.

Normal function, however, was affected at semi-urban and rural branches across the country.

Cash withdrawal and deposit, clearing of cheques and electronic cash transfer were affected to some extent. According to Allahabad Bank chairperson and MD Subhalakshmi Panse, out of 2,500 plus branches more than 900 branches were open and transaction happened in around 710 branches.

The All India Bank Employees Association (AIBEA), Bank Employees Federation of India (BEFI), All India Bank Officers' Association (AIBOA) and National Union of Bank Employees (NUBE) participated in the strike.

This strike was in opposition to amendments carried out in Banking Regulation Act and Banking Companies Act, enabling foreign equity in public sector banks, AIBEA General Secretary C H Venkatachalam said.

The amendment to the banking laws will dilute the interest of public sector bank, he said.

The unions claimed that about 5 lakh employees of various public sector banks participated in the strike.