NATIONWIDE BANK STRIKE: 2 crore cheques worth Rs 16,500 cr uncleared

The leader of a major union claimed total success impacting the clearance of two crore cheques/ instruments worth about Rs 16,500 crore.

“On an average, about 2 crore cheques/instruments worth about Rs 16,500 crore are held up for clearance. Government treasury operations and all normal banking transactions have been affected,” CH Venkatachalam, General Secretary, All India Bank Employees’ Association (AIBEA) said.

According to him, about 10 lakh bank employees struck work protesting the government’s decision to privatise its banks.

The Centre has decided to privatise two public sector banks in addition to IDBI Bank, and the United Forum of Bank Unions (UFBU) had given the strike call in protest. “As per reports reaching us from various states, banking operations have been affected and paralysed in all centres,” Venkatachalam said.

“Most of the Branches could not be opened. Clearing of cheques could happen since branches are not accepting cheques for clearance as branches are closed,” he said.

He said the strike would continue on Tuesday.