PSU banks strike to cost `1300 crore

The two-day strike of public sector undertaking (PSU) banks is likely to cause a loss of Rs 1300  crore in Jammu and Kashmir.

Talking to Kashmir Reader Convener of Union United Forum of Bank Unions (UFBU) Kashmir wing, Ashwani Pradran said, “We too have called for two day strike and during those days an expected loss of 1300 crore will have to be borne. This loss will  mainly be due to transaction, withdrawal and on account of interest component.”

 

The strike call has been called by (UFBU), an organization of nine unions of employees and officers of PSU banks here. The two day strike is mainly against banking sector reforms and outsourcing of non-core activities, affecting operations of government owned banks in the State.

 

With staff strength of 10,000 employees of PSU banks in Jammu and Kashmir, banking activity remained suspended in PSU banks working in here.

 

Pradran  said that they have been protesting since morning outside their establishments. “We too are a part of 10 lakh employees  across India who are on strike and all banking activity is closed.”

He added that they are confident that the government retracts on several decisions that are detrimental to PSU banking sector.

 

“The strike is against government’s policies of liberalisation, privatisation and globalization of PSU banks,” he said.

 

The  employees too are worried about the unilateral implementation of the Khandelwal committee report that takes care of human resources management in PSU banks. Besides Bank unions are stressing more on effective measures to recover bad loans.  In Jammu and Kashmir, two main PSU banks including the State Bank of India (SBI) and Punjab National Bank (PNB)  beside some other allied public sector banks were closed following the two day strike

 

Another member of Union affiliated with SBI told Kashmir Reader that their bank operate nearly 140 branches in the Sate with 6000 employees  and all are a part of this ongoing strike.

 

Meanwhile, the strike has caused great inconvenience to customers.  Apart from businessmen customers who transact money from here through their banks where a worried lot.  Sushil Kumar of Bihar who had come to deposit money at SBI Jawahar Nagar that was needed urgently  by his family said that he could not carry the transaction.

 

“The banks are an essential part finical sector and their strike does have major impact on common people, they should call off their strike,” he said.

 

Meanwhile ATM services of these banks too remained affected due to this strike.