News Nation Logo


Banks on two-day nationwide strike from tomorrow; ATM, salary withdrawal likely to be hit

News Nation Bureau | Edited By : Nabanita Chakorborty | Updated on: 29 May 2018, 08:31:47 PM
Bank unions to go on two-day-long nationwide strike from tomorrow (File Photo)

New Delhi:

Bank customers need to hurry up and finish their banking works soon as a two-day-long nationwide bank strike has been lined up till May 31 starting from Wednesday, May 30, 2018.

ATM services along with bank operations will be hit badly as employees and officers of various state-run banks will go on strike to protest against a two per cent wage hike offered by the Indian Banks Association (IBA).

It its last meeting with Bank unions on May 5, the IBA negotiated on a nominal two per cent wage hike but failed to convinced the bank employees. The decision came after higher losses were reported due to provisions towards NPA (Non-Performing Assets).

The losses, however, were not because of the bank employees. In the last wage settlement between November 1, 2012 to October 31, 2017, IBA had given a wage hike of 15 per cent.

Read | Petrol, diesel prices rise for 16th consecutive day; government mum on solution

Bank officers had been also asking for various other demands, which would now be restricted up to scale III officers only.

Talking about the ATM services, bank unions have promised to replenish the ATMs before they go on strike. Bank ATMs will not go dry as monthly salary credits for many organisations are scheduled for Thursday, May 31, 2018.

However, last year, during a nationwide strike, some ATMs went dry and clearing of cheques, money transfer, cash remittances, and deposit and withdrawals were affected at various branches across India.

Speculations had been also rife that ATM guards will also take part in the nationwide protest, scheduled to take place from May 30 to May 31.

Read | Rs 25 per litre cut possible in fuel prices, claims P Chidambaram

Though services of country's largest lender States Bank of India are expected to be impacted, online transactions will continue to work even after banks go on strike.

For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.

First Published : 29 May 2018, 01:33:26 PM