BANK BANDH

Joining the nationwide strike, all banks, including their ATMs in the state, remained closed today. All India Bank Employees Association (AIBEA), All India Bank Officers Association (AIBOA) and Bank Employees’ Federation of India (BEFI) had called for the strike to oppose the government’s move to introduce changes in banking laws and amendment to the Banking Regulation Act.
Seven lakh employees from various banks of the nation went on strike today after a conciliatory meeting of the Indian Banks' Association with the chief labour commissioner failed to arrive at a solution.
The unions are protesting against the amendments to the Banking Regulation Act, 1949, which are aimed at handing over Indian private sector banking to multinational banks and increasing presence of Indian corporate and foreign direct investment in public sector banks. They are contesting that the amendment to the banking laws will dilute the interest of public sector banks.

All banks, other than the State bank of India, will remain closed to transactions. The unions of SBI staff, including the National Confederation of Bank Employees and SBI Officers Association, are not joining the strike.