M A I N   N E W S

Banking services crippled

NEW DELHI, Dec 21 (PTI) — Banking operations across the country came to a grinding halt today with employees of nationalised banks going on a day’s strike against ‘’privatisation’’ even as the controversial Bill to reduce government equity was referred to a Parliamentary Standing Committee.

Transactions at the Reserve Bank of India was also affected though it maintained skeleton services, as the call for the strike given by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions, evoked an overwhelming response, union leaders said.

The strike had an impact on the foreign exchange market in Mumbai where trading remained thin and the dollar marginally depreciated against the rupee.

While employees of foreign banks and “old” private sector banks also joined the strike, those of the “new” Indian private sector banks, most of them on contract, did not participate in the strike.

According to sources, the Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Bill, 2000, the provocation behind the strike, was referred to a Standing Committee on Finance for examination on Monday.

The Bill seeks to reduce government equity in public sector banks up to 33 per cent.

The employees of the LIC and the GIC all over the country held demonstrations in support of the striking bank workers.

Lakhs of cheques, amounting to several crores of rupees, remained uncleared due to the non-functioning of clearing houses. Even ATM operations were badly hit in most places.

UFBU, representing over 10.5 lakh workers, had called the strike in protest against the introduction in Parliament of the Banking Companies (Amendment) Bill.

In Delhi, over 10,000 bank workers gathered outside the State Bank of India building in Parliament street and raised slogans against the “privatisation move”. They were addressed by some members of Parliament.

In the financial capital Mumbai, banks wore a deserted look and the transactions were severely affected.

In Calcutta, contrary to the position elsewhere, private and foreign banks, cooperative and rural banks joined their striking counterparts in the nationalised banks.

Meanwhile, Delhi convener of UFBU, V.K. Gupta, said over 13 lakh bank employees took part in the strike.

While, the Bhartiya Mazdoor Sangh affiliated National Organisation of Bank Workers took part in the strike, the INTUC-affiliated Indian National Bank Officers’ Congress (INBOC) and the National Organisation of Bank Officers dissociated from the stir.

Various organisations, including the Bhartiya Mazdoor Sangh (BMS), trade union wing of the BJP, and the All India Reserve Bank Employees Association (AIRBEA), extended support to the strike. 

Bank strike in region
From Tribune Reporters

SHIMLA, Dec 21 — Bank employees in Himachal Pradesh today struck work against the move of the government to privatise banks.

The employees held a rally in front of the State Bank of India. Employees’ leaders said the government was confusing the public on the privatisation issue. With the privatisation of the banks, the concept of social banking would be reversed.

The employees of the Life Insurance Corporation of India also held a demonstration on the issue.

HAMIRPUR: Banking activities all over this district were paralysed as employees observed a strike in support of their demands on Thursday.

The striking employees held a massive demonstration at Gandhi Chowk and raised anti-government slogans. Mr R.L. Chauhan, convener of the United Forum of Bank Unions, claimed that the strike was complete in the district.

CHAMBA: Employees of the regional rural banks like Parvatiya Gramin Bank and other banks did not participate in the strike by nationalised bank employees.

KANGRA: Banking was paralysed with all cadres and members affiliated with bank unions abstained from work. The strike was complete.

Mr Kishori Lal, Assistant General Secretary, Himachal Pradesh Bank Employees Federation, said in a statement here on Thursday that strike was complete in Kangra, Mandi and Una districts.

FEROZEPORE: The banking services remained paralysed as all banks remained closed in wake of the nationwide strike of nationalised banks against the anti-trade union and anti-poor policies of the government.

Bank employees gathered in large numbers and held a joint demonstration in front of the State Bank of India here. Leaders of various bank unions criticised the government’s policy of privatisation of banks by reducing their equity to 33 per cent and implementation of voluntary retirement scheme.

SANGRUR: Workmen and officers of all local nationalised banks observed a strike and held a demonstration in front of the main branch of the State Bank of Patiala here.

They were protesting against the introduction of the banking Bill in the Lok Sabha to reduce the government’s share in the nationalised banks from 51 per cent to 33 per cent.

FATEHGARH SAHIB: Banking operations came to a grinding halt in all branches of nationalised banks in this district following a nationwide strike called by the United Forum of Bank Unions.

About 250 striking employees gathered in front of Punjab National Bank, Sirhind branch, and burnt the effigy of the Finance Minister.

HOSHIARPUR: Employees of all nationalised banks observed a strike here on Thursday affecting the banking.

Reports of strike were also received from Balachaur and Garshankar.

YAMUNANAGAR: Bank employees of Yamunanagar district held a rally in front of the State Bank of India in protest against the government’s move to privatise nationalised banks.

AMRITSAR: Bank employees of nationalised banks, foreign, private, regional and rural banks observed a strike. They assembled in front of Punjab National Bank and held a rally.

A rally was also held by State Bank of India employees against the privatisation Bill of banks.