Bank strike hits clearance of cheques over Rs 5 lakh crore

Banking transactions across the country were impacted majorly, as nearly 3.5 lakh Class 3 and Class 4 employees of the industry went on a strike to protest against the merger of associate banks of State Bank of India with the Bank.

“Cheques worth more than Rs 5 lakh crore were pending for clearance due to the strike, despite the fact that SBI was functioning. The other unions which were not part of the strike also supported us by not doing clerical work,” All India Bank Employees Federation (AIBEA) general secretary Vishwas Utagi said.

According to Utagi, the strike was just a warning to the government and State Bank of India and that the protests could intensify further. “We are having a meeting of AIBEA officers in Chennai on January 13, in which the association will be contemplating further course of action. We may launch intensified strike during the Budget if the government fails to budge,” Utagi said.

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