The strike called by the nine-union United Forum of Bank Unions (UFBU) on Tuesday was total in Kerala, paralysing the banking industry.
The strike was to protest against the Centre’s alleged move to reduce the number of public sector banks by mergers and acquisitions and against the passing of the heavy burden of bad debts on to customers by way of increased service charges and cutting interest rates on deposits.
The unions wanted the government to retrieve the huge sums of money advanced to top companies and big-time borrowers. They called for scrapping of the Financial Resolution and Deposit Insurance Bill and dissolving the Banks’ Board Bureau.
The UFBU said that if the government did not address the issues, the unions would go on a two-day strike in October or November.
A Bank Employees Federation of India, Kerala, statement claimed that employees and officers in all segments of the banking industry in the State, including foreign and cooperative banks, went on strike on Tuesday.
