Employees' strike affects Indian banking

Banking operations were affected all over India on Wednesday, as over a million bank employees went on a day's strike in support of their various demands, including pay revision. The strike was total of 75,000 branches of 27 public sector banks, and 25,000 branches of 18 private and eight foreign banks across India. It is estimated that more than 10 crore cheques will not be cleared and may be delayed by up to five days in view of the day-long strike Wednesday. Among other things, the bank employees are demanding immediate fair revision in pay scales and oppose the proposed reforms in the banking sector. All the unions in the banking sector under the umbrella of United Forum of Bank Unions are participating in the strike.

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