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.