ATMs crowded as 7,000 bank branches strike work

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Serpentine queues in most ATM locations marked the start of the two-day nationwide strike by the banking community.

Banking services were hit in the state on Wednesday with over 70,000 employees from 7,000 public sector bank branches participating in the two-day nationwide strike against reforms in the banking sector and outsourcing of non-core activities.

Expecting another tough day on Thursday, most folks were hurriedly withdrawing cash from ATMs of public sector banks.

“Even after the two-day strike, the banks may not refill cash immediately and with a party at home this weekend, I want to be on the safe side,” said Manohar working with a PR firm.

Though private sector banks, foreign banks and ATMs, continued to operate normally, there was general panic among the public.

“I am leaving for my home town for Onam tomorrow and hence decided to withdraw today,” said Mr Renjith Kumar of Madipakkam.

PSU banks, which operate 63,000 ATMs, control about 75 per cent of banking business in the country.
“Nearly 10 lakh employees are participating in the strike.

This includes 24 public- sector banks, 12 private banks and 6 foreign banks,” said All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam.

Employees held demonstrations across the state as part of the protest, spearheaded by United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions of employees and officers of PSU banks.

UFBU which has over 10 lakh members from 70,000 bank branches in its fold, is demanding pension revision, housing loan revision, a five-day working week and opposing the unilateral implementation of the Khandelwal committee report on human resources management in PSU banks.

Other major measures, which the unions are protesting, include increasing the voting rights of shareholders and allowing more foreign and private capital into the banking sector.