Employees stage demonstration in front of Indian Bank zonal office as part of their nation-wide strike

Normal operations in public sector banks in Tiruchi district came to a standstill on Thursday as bank employees struck work registering their protest against the Banking Law Amendment Bill 2011.

The nation-wide strike was called by All India Bank Employees Association (AIBEA) with members of All India Bank Officers Association, Bank Employees Federation of India, and National Union for Bank Employees participating in the strike. State Bank of India, however, did not join the strike.

Clearing operations and cash transactions in the banks came to a halt, union sources said.

Old private banks such as Lakshmi Vilas Bank, Karur Vysya Bank, Karnataka Bank, Federal Bank, Catholic Syrian Bank and South Indian Bank too took part in the strike.

The sources said the Bill, already passed in the Lok Sabha, would lead to privatisation of the banking sector and pave the way for foreign investment in the sector and establishment of private banks. Operations in the 200 branches of various public sector banks in the district were hit.

A demonstration was held in front of Indian Bank zonal office in the city, which was led by AIBEA district president R.T. Ramamurthy.