From 30th MAY 2018 there is going to be a nation wide strike for two days in State owned banks called by around nine bank unions. Starting from 6AM on wednesday there is going to be a bank strike which could lead to a country -wide cash crunch.At the time of salaries and the end of the month withdrawals Around one million bank employees will be going on strike from tomorrow..People are withdrawing money and can lead to a panic among people leaving the ATMS DRY..There are around 2.2 lakh ATM's in the country out of which some are outsourced.Though there may be cash in the ATM's but there is panic among customers and are withdrawing large sums of money.
REASON FOR THE STRIKE:
The nation wide strike follows the IBA's delay in resolving a charter of demands, a meager offer of a two percent hike in wage revision,the government's casual approach to wage revision of Bank employees.
The two day nation wide bank strike will end on Friday ,1 June at 6 AM.Banking operations ,intra-government transactions ,transaction clearances, import bills, among other transactions will be impacted over the 48 -hours period. UNITED FORUM OF BANK UNIONS(UFBA) has served notice to go on a nation wide bank strike for 2 days on 30 and 31 of MAY.
WHO WILL NOT BE EFFECTED:
BANKS who do not have trade unions will not participate in the strike.ICICI BANK, HDFC BANK , AXIS BANK, YES BANK, and INDUSIND BANK will not be a part of the strike.Foreign bank employees will also be participating in this strike , as they are members of these unions , but not their officers.
After the Demonetization on 8 NOVEMBER 2016 , where the GOVERNMENT OF INDIA announced the demonetization of all Rs.1000 and Rs.500 overnight ,there is always a state of panic and insecurity among the public .Any news of strikes lead to panic. Despite of the news that the banks will start functioning from FRIDAY....