HYDERABAD: Over 65,000 bank employees from over 6,000 branches of public sector banks across Telangana participated on the first day of the two-day bank strike against the privatisation of government banks and ‘retrograde’ banking reforms on Monday. As banks were shut on March 13 (second Saturday) and March 14 (Sunday) as well, customers would effectively not be able to avail banking services from the for four days at a stretch from Saturday to Tuesday.
As a result of the two-day strike, clearances of around Rs 50-75 lakh of cheques/instruments worth about ‘20,000- 30,000 crore in the State were impacted. Meanwhile, withdrawal of cash at bank branches and ATMs, loan approvals, and deposits were also affected, bank unions said. Under the aegis of the United Forum of Bank Unions (UFBU), multiple bank associations in the State participated in the strike. As part of the strike, several demonstrations were held at multiple places in the State.
In Hyderabad, thousands of bank employees gathered at the Koti branch of State Bank of India to protest against the privatisation of public sector banks. Several political parties and trade unions also extended their support to the nationwide strike. Speaking to Express, UFBU Hyderabad region convenor BS Rambabu said the strike was in the interest of the nation and to save the nation from being taken over by private vested interests.
Stating that this government’s motto was to gain profit and offer no service to the common man, he added, “Once the banks get privatised, it would only benefit a few corporate and private entities whereas a majority of the country’s population may be left out of mainstream banking. There would be lack of welfare schemes for weaker sections and bank credits would only be given to selected entities. These are retrograde banking reforms and they will impact the general public, especially those belonging to the weaker economic sections.”