ROURKELA: The nationwide strike of nationalised banks in six days on Wednesday coupled with bank holidays crippled banking operations in the industrial and mining district of Sundargarh leading to a whopping loss to banks and difficulties to customers. Officers and employees of nationalised banks under the banner of United Forum of Bank Unions (UFBU), comprising AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOB, on Wednesday joined the strike in Rourkela city and rest of Sundargarh.
Odisha unit secretary of All India Bank Officers’ Association (AIBOA) Pasupatinath Chatterji said the protestors demonstrated near Bisra Square opposing the merger of Bank of Baroda (BoB) with Dena Bank and Vijaya Bank, demanded urgent recovery of bad loans from corporate defaulters and opposed squeezing of credit. He accused the Central Government of trying to divert attention to hide its failure to recover bad loans.
Regional secretary of National Confederation of Bank Employees Sourav Pani said of 217 commercial bank branches in Sundargarh district, above 160 branches including nearly 80 in Rourkela city joined the strike. He pointed out that the profit-making State Bank of India (SBI) had suffered huge loss following the merger of associated banks with their bad assets. He said same things would happen to the BoB, which is in sound financial condition now if it is forced to merge and acquire bad assets of Dena Bank and Vijaya Bank.
While no official data was available at the local level, banking sources claimed that cash and cheque transactions running to Rs 200 to Rs 300 crores were hit in the city on Wednesday. They estimated the loss of daily cash transaction of Rs 100 to 150 crores besides similar amount by the Clearing House of SBI at Rourkela that deals with around 4,000 cheques.
Earlier, banking services were also affected on December 21 due to a nationwide strike of All India Bank Unions’ Confederation over pay revision. Barring the working day on December 24, all banks between December 21 and 26 remained closed either for strike or holidays. At busy locations, customers faced a harrowing time with ATMs running dry as cash could not be loaded in time.
A senior officer of SBI said banking working hours were lost due to protest by lawyers and Rourkela bandh by a lesser-known political outfit in November and December. The lawyers of Rourkela have also declared to close banks on last three working days in December as part of its economic blockade.