Public Sector bank branches were either closed or remained non-operational on Tuesday, February 28th as staff and officials went on a day-long strike citing various reasons including accountability of their top officials.
This move has come in wake of developments, especially on the bad loan mounting in public sector banks.
The bank strike 2017 which has been called under the aegis of United Forum of Bank Unions has hit various services like cash deposits, withdrawal and cheque clearances. The All India Bank Employees Association General Secretary Mr CH Venkatachalam told Press Trust of India that their senior officials did not bother to offer them compensation for the hard efforts and extra hours put in by bank employees during the demonetization drive.
Though the United Forum of Bank Unions is an association of 9 unions but two of its member units including National Organization of Bank Officers and National Organization of Bank Workers are not a part of this bank strike 2017. The union is also opposing the labour reforms which are in pipeline and the outsourcing of jobs in the banking sector.
The impact of the bank strike 2017 can be realized from the fact that around 27 public sector banks have a control over 75 percent of total business being done in the country.
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