Tamil Nadu: Transactions worth Rs 12,000 crore hit due to bank employees strike on the first day

Financial transactions to the tune of Rs 12,000 crore across Tamil Nadu were hit on Wednesday, day one of the two-day nation-wide strike called by bank employees in support of their demands.

Published: 31st May 2018 05:38 AM  |   Last Updated: 31st May 2018 05:38 AM   |  A+A-

By Express News Service

CHENNAI: Financial transactions to the tune of Rs 12,000 crore across Tamil Nadu were hit on Wednesday, day one of the two-day nation-wide strike called by bank employees in support of their demands.
With the salary date of many government and private company employees falling on strike days, withdrawal of cash from ATM and banks were affected, leaving thousands of people in high and dry.
The impact of the strike delayed cheque transactions in Chennai to the tune of Rs 6000 crore.
According to C P Krishnan, general secretary, Bank Employees Federation of India, about 80,000 bank employees from scale one to scale seven of 21 banks,  including nationalised banks and private banks, participated in the strike.

“Last year, we were given a 15 per cent salary hike. This year, the proposed two per cent hike for junior level officers up to scale III is unacceptable. Though we are yet to demand any specific quantity of hike, we are awaiting negotiations with government,” he said.

The striking bank employees also opposed the Central government’s proposal to de-link the salary hike negotiations of bank officers in the scale of IV to VII.

The 9000 branches of nationalised, cooperative and private banks clear instruments to the tune of `12,000 crore a day. “We do not intend to paralyse business activities in the country, but want the government to heed our concerns,” added Krishnan.

ATMs are also expected to go dry by Wednesday. This is because a few private bank ATMs across Chennai city which are functioning, are fast becoming dry.

A protest was organised near Chennai Collectorate on Rajaji Salai. It was addressed by employee  association members.

A few nationalised banks, including SBI, have sent text alerts to their customers informing about the disruption of financial activities due to the strike.

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