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ICCI Flays Bank Strike

The Indian Chamber of Commerce and Industry (ICCI) has flayed the ongoing All-India bank strike by the United Forum of Bank Unions.

Published: 11th February 2014 07:53 AM  |   Last Updated: 11th February 2014 07:53 AM   |  A+A-

The Indian Chamber of Commerce and Industry (ICCI) has flayed the ongoing All-India bank strike by the United Forum of Bank Unions.

It pointed out that commercial transactions, foreign exchange operations and clearing of cheque have taken a big hit in the state. ICCI president A A Abdul Azeez stated that the strike has only accentuated the gloomy economic conditions prevailing in the country, with its business confidence index slipping further during the last quarter of the current financial year.

“Bankers should have taken note that India’s competitive position among other emerging markets is not favourable and the strike has only worsened the situation,” the chamber said.

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