Banking services take a hit as staff go on nationwide strike against privatisation

Trichy/Madurai: The banking services were affected on Monday as more than 1,800 employees of nationalised banks in Trichy district participated in a two-day nationwide strike against the Centre’s proposal to privatise two nationalised banks.

However, online transactions were not affected. Meanwhile, in Madurai, a large number of bank employees from public sector undertaking banks and some private sector banks also took part in a demonstration that took place in front of State Bank of India in West Veli Street. Madurai bank officials said that Rs 400 crore worth banking transactions would be affected due to the two-day strike.

Employees of the branches 12 public sector banks (PSBs) and the old generation private banks in Trichy participated in the strike, general secretary s-of the Tiruchirappalli District Bank Employees Union G Ramaraj said. “The strike impacted all the transactions of banking,” he said. More than 350 members of the nine unions of bank employees under the banner of the United Forum of Bank Union (UFBU) staged a demonstration in Trichy condemning the privatisation move. Banking operations are expected to be affected on Tuesday too. ATMs might run out of money on Tuesday as cash was loaded last on Friday. Joint secretary of the association J Anantha Padmanabhan said, “It is a precursor to privatising all the PSBs. If it goes to the private sector, the mass banking will be at risk,” said Padmanbhan.