HYDERABAD: ATM services of public sector banks (PSBs), already going through serious money crunch, were significantly disrupted across the town as the banks union struck paintings in protest in opposition to what they referred to as “a meagre” 2% salary revision proposed by way of the Indian Banks’ Assocation (IBA).
The nation-wide strike crippled the functioning of no less than five,000 branches in Telangana and around 7,000 in Andhra Pradesh as 80,000 state-run bank workers of each the states referred to as off paintings. Of the entire 12,000 branches, SBI by myself constituted 2,900 branches. Nearly 10 lakh bank workers of 21 PSBs are on two-day agitation across the country in opposition to nominal salary revision.
Apart from ATM services, transactions like cheque clearances, demand drafts, RTGS (Real Time Gross Settlement) and remittances were affected despite the fact that online banking presented some solace to the customers in the town. However, it used to be business as standard at non-public banks as they weren't a part of the strike.
“Strike or no strike, ATMs were going through money crunch for a while now,” United Forum of Bank Unions (UFBU) AP and Telangana convenor V V S R Sarma said whilst protecting the union strike. With the pay day nearing, non-public and executive workers whose wage accounts are with the PSBs are likely to have issues.
During the day, around five,000 bank workers held demonstrations out of doors the native SBI headquarters in Koti. “The protest will proceed at SBI department, Patny,” Sarma said. UFBU is an umbrella organisation of 9 unions of bank officials and workers including AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.
Giving his piece of thoughts to the Indian Banks Association (IBA), United Forum of Bank Unions (UFBU) AP and Telangana convenor V V S R Sarma said the IBA must center of attention on restoration of dangerous loans as an alternative of moving blame on mouting NPAs and eroding profitablity of PSBs for the nominal salary revision.
“It isn't that the banks are not successful, the working income are top which shows that the bank workers are running laborious. But there has been higher provisioning for NPAs,” he said, including it's unfair to give a coldshoulder to the workers for the dangerous loans. The executive must crack a whip on the large borrowers for siphoning off crores of rupees and fleeing the nation, he said.
Reeling out knowledge of income earned by way of the PSBs, Sarma said in 2011-2012, web working profit of PSBs used to be ₹1,27,000 crore. In 2016-2017, it had risen to ₹1,57,000 crore, he added. Salaries of stateowned bank workers are revised each 5 years. The earlier wage hike used to be 15% in May 2015, which used to be effective from November 2012 retrospectively. Sarma hinted that even a 15% hike won’t be sufficient this time and the workers will proceed to demand for higher wages.
The nation-wide strike crippled the functioning of no less than five,000 branches in Telangana and around 7,000 in Andhra Pradesh as 80,000 state-run bank workers of each the states referred to as off paintings. Of the entire 12,000 branches, SBI by myself constituted 2,900 branches. Nearly 10 lakh bank workers of 21 PSBs are on two-day agitation across the country in opposition to nominal salary revision.
Apart from ATM services, transactions like cheque clearances, demand drafts, RTGS (Real Time Gross Settlement) and remittances were affected despite the fact that online banking presented some solace to the customers in the town. However, it used to be business as standard at non-public banks as they weren't a part of the strike.
“Strike or no strike, ATMs were going through money crunch for a while now,” United Forum of Bank Unions (UFBU) AP and Telangana convenor V V S R Sarma said whilst protecting the union strike. With the pay day nearing, non-public and executive workers whose wage accounts are with the PSBs are likely to have issues.
During the day, around five,000 bank workers held demonstrations out of doors the native SBI headquarters in Koti. “The protest will proceed at SBI department, Patny,” Sarma said. UFBU is an umbrella organisation of 9 unions of bank officials and workers including AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.
Giving his piece of thoughts to the Indian Banks Association (IBA), United Forum of Bank Unions (UFBU) AP and Telangana convenor V V S R Sarma said the IBA must center of attention on restoration of dangerous loans as an alternative of moving blame on mouting NPAs and eroding profitablity of PSBs for the nominal salary revision.
“It isn't that the banks are not successful, the working income are top which shows that the bank workers are running laborious. But there has been higher provisioning for NPAs,” he said, including it's unfair to give a coldshoulder to the workers for the dangerous loans. The executive must crack a whip on the large borrowers for siphoning off crores of rupees and fleeing the nation, he said.
Reeling out knowledge of income earned by way of the PSBs, Sarma said in 2011-2012, web working profit of PSBs used to be ₹1,27,000 crore. In 2016-2017, it had risen to ₹1,57,000 crore, he added. Salaries of stateowned bank workers are revised each 5 years. The earlier wage hike used to be 15% in May 2015, which used to be effective from November 2012 retrospectively. Sarma hinted that even a 15% hike won’t be sufficient this time and the workers will proceed to demand for higher wages.
Double whammy: Bank strike cripples ATMs
![Double whammy: Bank strike cripples ATMs]()
Reviewed by Kailash
on
May 31, 2018
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