Bank strike today

Bank transactions will be hit on Wednesday and Thursday, as nearly 15,000 employees of nationalised banks will strike work to press Union government for a slew of demands.

Local unit of the Nationalised Bank Officers and Employees' Union will stage a demonstration at  Mysore Bank Circle protesting merger of banks without consulting Competition Commission of India, increasing voting rights in old banks from 10 per cent to 26 per cent.

Opposition to Foreign Direct Investment and opening up of banking sector for corporate companies will also be on the agenda of Union leaders.

The two-day stir is being organised ahead of Union Finance Minister P Chidambaram tabling a bill related to management of banks in India on Wednesday. Although, all nationalised banks will down shutters for two days, ATMs will function as usual.

‘No amendments’

Speaking to Deccan Herald B S Ravindra, Deputy General Secretary SBI Employees' Association said their major demands are opposition to amendments to Banking Regulation Act, 1949 and Banking Companies Acquisition, Transfer and
Undertaking Act, 1 970 and 1980.

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