Bank strike: Which banks are open today and what services are available
- Author: Zachary Reyes Feb 28, 2017,
Feb 28, 2017, 9:35
The press release reads " Bank employees and officers in all public sector banks, including SBI, all old-generation private banks, foreign banks, Regional Rural Banks and Cooperative Banks will observe one-day strike".
All the bank employees from officers to clerks will join the strike to make a strong impact.
While most of the banks would go on strike on Tuesday, top private lenders such as the ICICI, HDFC, Kotak Mahindra Bank and Axis bank would function normally.
Some of the demands of the unions include compensation to employees and officers for extra hours of work put in following demonetisation in November and early initiation of process of next wage revision of bank employees. Besides cheque clearances, cash operations will also be hit.
A senior State Bank of India executive said, "We will not see much of a problem except for cheque clearances".
On Monday Government bonds (G-Secs) gained further following persistent demand from corporates and banks, while the overnight call money remained lower due to lack of demand from banks due to the comfortable liquidity situation in the banking system.
"They are a part of the government and they have not participated in any strike since the BJP government came to power in 2014", said Vishwas Utagi, vice president of All India Bank Employees Association (AIBEA).
The UFBU, which claims membership of almost 10 lakh across banks, also requested the government for cost reimbursement of demonetisation to banks.
Utagi said they deserve to be rewarded. The bad loans have increased and over Rs 16 lakh crore, which is nearly 18 percent of the total loans, are frozen and can not be used. Unions are also opposed to the proposed labour reforms of the government. These (loan borrowers) are economic offenders and should be booked, he added.
Banks such as the State Bank of India, Punjab National Bank and Bank of Baroda have already informed their customers that functioning of branches will be impacted as a result of the strike.