Banking Operations May Be Affected Due To Strike On Tuesday
Striking bank officers and employees shout slogans outside the main branch of the State Bank of India. (Photographer: Sondeep Shankar/Bloomberg News.)

Banking Operations May Be Affected Due To Strike On Tuesday

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Services in state-owned banks may be affected as some of the employees unions have decided to observe a nationwide strike on Tuesday to protest against bank mergers and fall in deposit rates.

However, officers and private sector banks are not part of the strike call given by All India Bank Employees Association and Bank Employees Federation of India. Most of the banks, including the country's largest lender State Bank of India, has already informed customers about the strike and its impact on them.

"The membership of our bank employees in unions participating in the strike is very few, so the impact of the strike on Banks operation will be minimal," SBI said in a filing to stock exchanges last week. Another public sector lender Syndicate Bank said: "The bank is taking necessary steps for the smooth functioning of branches on the proposed strike day. However, in the event the strike materializes, the functioning of the branches/offices may be impacted".

In the absence of any positive outcome in the meeting called by Chief Labour Commissioner, it has been decided to go ahead with the strike, AIBEA General Secretary CH Venkatachalam said. The meeting held before Chief Labour Commissioner between representatives of Indian Banks' Association and unions failed to reach a common ground.

"Hence our call for strike stands. We exhort all our unions and members all over the country to go ahead with the strike," he said. Last month, officers' unions had called a two-day all India bank strike on Sept. 26 and 27, which was later withdrawn following the government's intervention.

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