Two-day banking strike cripples Mumbai

Mumbai, Feb 10 (IANS) The country's financial capital Monday woke up to a two-day long total banking sector strike which has crippled most business and commercial activities here.

All branches of public sector banks, private banks, many foreign banks in the city, and the regional rural bank branches were deserted.

According to the United Forum of Bank Unions (UBFU), which is spearheading the agitation, the strike which started Monday 6 a.m. will end Wednesday 6 a.m.

"The strike is total. Over a million employees in all these banks, barring the co-operative sector banks, are taking part with around 90,000 bank branches to remain shut for two days for our various demands," All India Bank Employees Association (AIBEA) vice-president Vishwas Utagi told IANS.

As many as 27 public sector banks, 18 private banks, eight foreign banks and 48 Regional Rural Banks across India have joined the strike call by the UBFU, an umbrella organisation with top bank employees and officers unions under its fold.

Utagi said that besides the pending issue of wage revisions, the UBFU is also opposing banking reforms like privatization of banks, mergers, issuing new bank licenses to corporate houses, rising non-performing assets and related aspects.

The UBFU includes AIBEA, National Confederation of Bank Employees, Bank Employees Federation of India, Indian National Bank Employees Federation, Indian National Bank Officers Congress, National Organisation of Bank Workers, All India Bank Officers Association, and National Organisation of Bank Officers.

Utagi said that the UBFU had gone on a strike Dec 18, 2013 for similar reasons.

The world's most beautiful bank towers (To view full slideshow, click on the image below)
To view full slideshow, click on the above image

--

Did you know that you can get stories like this on the Yahoo mail app?
Download it here.

DON'T MISS

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    160.00+6.70+4.37%
    IDFC6.BO
    20.15+1.25+6.61%
    SPICEJET.BO
    14.35+0.30+2.14%
    UNITECH.BO
    25.20-0.15-0.59%
    SUZLON.BO
    119.40+0.85+0.72%
    JINDALSTEL.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    12.070.000.00%
    ARISINT.BO
    43.00+30.10+233.33%
    AVIPHOT.BO
    30.00+15.75+110.53%
    GSS6.BO
    55.100.000.00%
    MACK.BO
    49.300.000.00%
    PENIND4.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    336.30-201.85-37.51%
    UPL6.BO
    680.00-182.00-21.11%
    YESBANK6.BO
    38.00-9.45-19.92%
    JAYSYN.BO
    14.90-3.10-17.22%
    UPSURGE.BO
    9.87-1.81-15.50%
    SPLIL.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Yahoo Cricket