Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article
Home > Business > PTI > Report

Officers strike paralyses banking operations

May 02, 2003 17:11 IST

Banking operations in the country were seriously affected causing inconvenience to industry, trade and the public, with officers of public-sector banks observing a nationwide strike on Friday to demand, among other things, wage increase.

"Over 250,000 lakh officers of 26 PSU banks observed the token strike today," S K Rathore, deputy general secretary of National Organisation of Bank Officers, said from Jaipur, claiming the banking operations were paralysed due to the strike.

Except Bank of Baroda employees of all other public-sector banks including State Bank of India, observed the strike called by NOBO, along with All India Bank Officers Association and All India Bank Officers' Confederation representing over 90 per cent of officers in the banking industry, he said.

The one-day strike caused over Rs 100 crore (Rs 1 billion) loss in terms of productive business, J D Sharma, vice president of AIBOC, said in New Delhi.

Bank officers all over the country held demonstrations and protested against delay in wage revisions, exclusion of a second option for pension scheme to existing employees and tax on perks.

In Mumbai, Reserve Bank of India clearing-house was open but very few transactions could take place. Reports from Chennai, Kolkata and other cities also said banking operations were severely affected.

All India Reserve Bank Officers Association did not participate in the strike but lent moral support to the stir, which has been termed as "unjustified" by Indian Banks Association.

7333: The Latest News on Your Mobile!

© Copyright 2005 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Share your comments

 What do you think about the story?

Read what others have to say:

Number of User Comments: 5

Sub: Bank Strike

After the pilots,it was the turn of the Bank officers and Staff to hold the country to ransom.What is the use of reducing Bank rate ...

Posted by Gautam Mookerjee

Sub: Bank Officers Strike

All over the world there is more and more job cuts, down sizing or right sizing etc. etc are going on rendering more and more ...

Posted by allmedicare


"The one-day strike caused over Rs 100 crore (Rs 1 billion) loss in terms of productive business, J D Sharma, vice president of AIBOC, said ...

Posted by R.Sajan

Sub: Banking Strike

We don't now why these banking sector play like this, keeping publics money, acting irresponsibly. See the banking sector is one of the major public ...

Posted by satish

Sub: They all terrorize the people.

The organized power that these various unions wield is so enormous that the consequent damage that it inflicts on the economy of the country is ...

Posted by p chandra



Copyright 2005 India Limited. All Rights Reserved.