PSU bank employees go on 2-day strike

Banking services at public sector banks across India have been interrupted today, the Wednesday, and will continue to be so tomorrow, the 31st, as public sector bank employees have started their two-day nationwide strike against the meagre 2% salary hike offered by Indian Banks Association.

However, operations in private banks, such as ICICI Bank, HDFC Bank, Axis Bank, were almost normal, barring few activities including cheque clearance. This has been in keeping with the warning issued last week – United Forum of Banking Unions (UFBU), an umbrella body of nine unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) - had called for the strike to protest against the ‘meagre’ wage hike offered by the IBA earlier this month. 
Considering it’s the end of the month, the bank strike is likely to affect salary withdrawals. Some ATMs are also likely to take a hit. Besides, deposits in bank branches, renewal of fixed deposits, government treasury operation, money-market operations are also likely to be impacted by the bank strike. Withdrawal and cash-deposits at public sector banks will be affected.