Saturday, September 25, 2021
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Bank strike- pay price on pay days

Bank strike for two days is crippling the economy of this country. Apart from this it is the pay day for the public and private sector organisations. The combined bank employees union has preferred month end for this agitation, which is not in good taste and against the national sprit. Over 10 lakh bankers in the government and the private sector are participating in the two day strike. The officers and employeees are upset that their salary have been revised just 2 per cent. In such a time, last minute efforts to prevent strike proves futile mostly. Of course ATMS would be operational but you can imagine the rush and hence there are chances of currency shortage as well. Clearing house operations will be suspended for two days, resulting in huge volume of cheques with high value kept pending for more than 48 hours. Though the strike is spearheaded by the United Forum of Bank Unions, an umbrella body of nine unions, the strike on pay days is intentional to cause discomfiture to the clients. It could have been easily avoided had there been understanding between Bankers and the IBA and Union Finance Ministry.

Akhilesh Krishnan

(The views expressed by the author in the article are his/her own.)

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