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L.N. Revathy

Coimbatore, Aug. 18 While the bank unions contend that the strike by a section of the employees’ association on Monday and proposed strike by the AIBEA (All India Bank Employees Association) on August 20 is not aimed to ‘inconvenience’ the common man but is an expression of protest of their unfulfilled demands, the business community thinks otherwise. “We can do nothing about the bank strike. We plan and negotiate well ahead of the strike date. But strikes definitely affect our foreign exchange dealings,” the President of Tirupur Exporters’ Association (TEA), Mr Sakthivel, said.

The daily forex transaction volume in Tirupur is estimated at Rs 40 crore.

The President of the Indian Chamber of Commerce and Industry, Mr D. Balasundaram, while admitting the inconvenience said that a one-day strike would not bring the business to a halt, “it will however increase the finance cost, especially if a bill is payable and due on the date of the strike”.

He recalled how a member of the Chamber (and customer of SBI) was penalised during the indefinite strike call given by the State Bank of India Officers’ Association last time.

“Despite the member’s representation to the bank’s Chairman that he should not be penalised for a dispute between the bank’s management and its unions on wages, the interest charged to his account was not reversed, adding to his cost,” he explained, adding that a “one day strike will not be very costly, but an indefinite one will.”

Banking transactions, though, are expected to take a hit this week. Monday’s strike is by the members of the All India State Bank Officers’ Federation to protest the merger of State Bank of Saurashtra with State Bank of India.

The AIBEA has given a call to strike work on August 20 to protest against the “anti-people banking, economic and labour policies” of the Government.

It is not as if the business community alone is preparing ahead of the strike.

The ordinary man is also seen rushing to the bank to withdraw ‘some’ amount cash lest he runs out of it.

More Stories on : Trade & Labour Unions

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