Banking Operations To Be Hit On Tuesday As Employees To Go On Strike3Photo© business-standard.com

Banking Operations To Be Hit On Tuesday As Employees To Go On Strike

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Banking operations will be hit across the country on Tuesday as 3.5 lakh banking employees across the country will go on a one-day strike. The strike has been jointly called by All India Bank Employees' Association (AIBEA) and Bank Employees Federation of India (BEFI) to protest against the government's proposed move to merge 10 public sector banks into four.

The call for strike on October 22 is also being backed by the the central trade unions. Banks such as Oriental Bank of Commerce, Bank of Maharashtra, Syndicate Bank and Bank of Baroda have warned that their operations may be impacted due to the proposed strike, according to regulatory filings.

"The government's decision is most unfortunate and totally unwarranted. All the banks who now are facing closures namely Andhra Bank, Allahabad Bank Syndicate Bank, Corporation Bank, United Bank of India and Oriental Bank of Commerce are well performing Banks and have been greatly contributing for our nation's economic development in their respective geographical areas," central trade unions said supporting the strike on Tuesday.