Banking services impacted due to nationwide trade union strike

The trade unions have claimed around 25 crore people are participating in the strike .

Update: 2020-01-08 05:57 GMT
A few days after the central bank nudged banks to cut lending rates, a host of lenders have announced a cut in their marginal cost of funds based lending rate (MCLR). Bank of Baroda, the second largest public sector bank, Union Bank of India and UCO Bank announced a cut in MCLR on Tuesday.

New Delhi: Banking services were impacted on Wednesday as employees went on a nationwide strike called by 10 central trade unions to protest against the government's "anti-people" policies.

Branch activities including cash withdrawal deposit in public sector banks in many places across the country have been affected due to the strike.

Most of the lenders had informed their customers in advance about the strike call given by All India Bank Employees Association (AIBEA), All India Bank Officers' Association (AIBOA), BEFI, INBEF, INBOC and Bank Karmachari Sena Mahasangh (BKSM), and its impact on banking services.

Bank employees have extended support to the nationwide strike call given by 10 central trade unions, AIBEA general Secretary C H Venkatachalam told PTI.

"We have been opposing government policies on bank merger, privatisation, fee hike and other wage-related issues," he said.

All India Reserve Bank Employees Association (AIRBEA) and All India Reserve Bank Workers Federation (AIRBWF) and some insurance unions have also extended support to the strike.

Trade unions INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF, UTUC along with various sectoral independent federations and associations had adopted a declaration in September last year to go on the nationwide strike on January 8.

The trade unions have claimed around 25 crore people are participating in the strike to protest against the government's "anti-people" policies.

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