Over nine lakh employees of public sector banks would go on a two-day nationwide strike beginning Wednesday to protest merger and consolidation and wage related issues in the banking sector .

"Talks with the chief labour commissioner have failed and we are proceeding with the strike," said United Forum of Bank Unions Convener C H Venkatachalam.

Strike is because of delay in settlement of issues like wage revision, second pension option, he said.

UFBU, comprising nine all-India unions and organisation is protesting against the government's policy of privatisation and consolidation, he said.

Normal banking transactions are likely to be disrupted across 50,000 branches that includes about 15,000 branches of SBI [Get Quote] and its six associate banks.

Clearing operation, cash handling, forex and money market operations are likely to be affected due to the strike.

Last month, officers in SBI and its associate banks went on a strike against the merger of State Bank of [Get Quote] Saurashtra with State Bank of India.

Two days later, a section of bank employees of the nationalised banks went on stir. 

Despite protest, SBS has been merged with the State Bank of India.

A few banks, including Dena Bank [Get Quote] and Canara Bank [Get Quote], in their filing on the Bombay Stock Exchange last week said that the normal functioning of the bank branches may get affected.