Business

State suffers Rs 2000 cr loss for Bank strike

strike

Cuttack: Bank operations remained shut off on Tuesday following a country wide strike called by the United Forum of Bank Unions (UFBU) over demands related to wages.

Earlier, SBI and other nationalized banks had informed their customers regarding impact of the strike on branch functions.

A conciliation meeting was held between the bank management association (IBA) and the unions through an approach by the Chief Labor Commissioner which failed miserably yielding no positive outcome.

Above 10 lakh bank employees’ nation-wide and 50,000 from Odisha, participated the observation on Tuesday whereas private banks – HDFC, ICICI and AXIS didn’t step out for the strike.

The strike directly affected the transactions of trade market and triggered the state to suffer loss of Rs 2000 crores approximately with clearing house of the state shut for the strike; business worth Rs 15000 was stalled.

The Unions demanded the government to adopt a reform for allocating permanent jobs in banking sector, revising the next wage slab and to compensate the bank employees those who worked overtime following the demonetization in November.

Besides, they also demanded for generating fresh recruitment process in all cadres and to take stringent action against the willful loan defaulters.

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