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10 lakh bankers begin two-day nationwide strike

By Team Pardaphash 
Updated Date

Chennai: All India Bank Employees’ Association leader today said that the two day bank strike began today in which over 10 lakh bankers are demanding early wage settlement.

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“Around 85,000 bank branches spread across the country, including that of State Bank of India and some private banks will remain closed for two days. The response to the strike is good,” C.H. Venkatachalam, General Secretary, AIBEA told media.

Queried about the value and volume of money instruments that would not be cleared by the bank’s clearing houses Venkatachalam said: “On all India basis clearance of 39 lakh instruments with a value of Rs 21,700 crore per day would be impacted.

“The above value and volume were the averages of last 15 days clearance of instruments.” The May 30-31 strike is spearheaded by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions. The bankers are striking work demanding early revision of the wages. The wage revision has been due since November 1, 2017.

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