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Normal banking operations, including the clearance of millions of piled up cheques, resumed today in public sector banks after the 2-day strike called by unions ended.
They were protesting against banking sector reforms and outsourcing of non-core services to private players.
"Most of the customer-related services like clearing of cheques and demand drafts and lockers were badly impacted. Crores of cheques were held up. Government treasury operations were also affected. Now banks have resumed all the services," All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam said.
He said, however, the loss to the banks due to the strike could not be quantified.
ATMs, which functioned normally on the first day of the strike, ran out of cash yesterday hampering day-to-day activities.
When the banks opened, there was rush seen at various branches as people sought to conclude held-up transactions. Employees of 24 public sector banks (PSBs) and 12 private banks participated in the strike.
Venkatachalam said, meanwhile, that the union will meet again in a couple of days to discuss the future course of action.
Unions are protesting against reform measures such as the Banking Sector Laws Amendment Bill which seeks to remove restrictions on voting rights of foreign shareholders and increase voting rights of private investors in the PSBs.
Bank unions have been demanding pension revision, housing loan revision, 5-day working week and human resource related issues, among others.
Source: EconomicTimes
They were protesting against banking sector reforms and outsourcing of non-core services to private players.
"Most of the customer-related services like clearing of cheques and demand drafts and lockers were badly impacted. Crores of cheques were held up. Government treasury operations were also affected. Now banks have resumed all the services," All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam said.
He said, however, the loss to the banks due to the strike could not be quantified.
ATMs, which functioned normally on the first day of the strike, ran out of cash yesterday hampering day-to-day activities.
When the banks opened, there was rush seen at various branches as people sought to conclude held-up transactions. Employees of 24 public sector banks (PSBs) and 12 private banks participated in the strike.
Venkatachalam said, meanwhile, that the union will meet again in a couple of days to discuss the future course of action.
Unions are protesting against reform measures such as the Banking Sector Laws Amendment Bill which seeks to remove restrictions on voting rights of foreign shareholders and increase voting rights of private investors in the PSBs.
Bank unions have been demanding pension revision, housing loan revision, 5-day working week and human resource related issues, among others.
Source: EconomicTimes
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