The Hindu Business Line : Strike hits clearing operations

The one-day nationwide strike called by the United Forum of Bank Unions (UFBU) hit banking services, including clearing operations across the country. Over 10 lakh employees and officers of nationalised banks stayed away from work.

Cheque clearing was badly hit as only 15 banks participated in clearing against the normal 35 banks, said Reserve Bank of India officials.

According to RBI, in the Mumbai circle, 2,700 MICR instruments worth Rs 44 crore were cleared against the normal of 8,000-10,000 instruments worth Rs 75-100 crore.

About 58 high value instruments valued at Rs 12 crore against a daily average of 2,000 instruments worth Rs 45-50 crore were cleared.

UFBU, an umbrella organisation of nine bank unions, has members of nationalised and old private sector banks.

The unions are opposing outsourcing of banking activities and demanding fresh recruitment in nationalised banks. After the voluntary retirement scheme in 2000, about one lakh posts in nationalised banks are lying vacant, said an office-bearer of the All-India Bank Officers Association.

Other demands include a second pension option, increase in pension for widows and implementation of the Compassionate Appointment Scheme.

Our Chennai Bureau adds:

The United Forum of Bank Unions' convenor, Mr C.H. Venkatachalam, said the one-day bank strike was total and banking operations had ground to a halt.

He said, "As per reports reaching us from various centres, the strike has been a thunderous success everywhere."

He said further strike action would be contemplated.

He said: "Since the bank managements and the Government have remained adamant on our genuine demands, a meeting of UFBU has been called at Chennai on November 9 to chalk out further intensified programmes and strike actions."

Mr Venkatachalam expected the Indian Banks Association and the Government to act soon on the issue of compassionate appointment for widows or children of those bank employees who die in harness.

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