Merger of banks is totally unwarranted in India, AIBEA said in a statement.
Banking services were affected on Tuesday after two bank unions called for a one-day nationwide strike to oppose the government's move to merge public-sector lenders.
Services like cash deposit and withdrawal at the counter and cheque clearances were impacted due to the strike by banking staff.
However, public sectors bank branches in urban areas of the country were operational as officers these banks are not part of strike, news agency Press Trust of India reported.
The All India Bank Employees Association (AIBEA) and the Bank Employees Federation of India (BEFI) have called for the strike.
Here are five things to know about the bank strike today:In a joint statement, the AIBEA and BEFI said, that the strike call is to oppose bank mergers and banking reforms and high penal and service charges for customers.
Other demands include recovery of bad loans, stringent action on defaulters and job security, according to the statement.Merger of banks is totally unwarranted in India as we need more banking services and opening of more branches to serve the people, AIBEA General Secretary CH Venkatachalam was quoted as saying by news agency Press Trust of India."The merger has so far resulted in closure of branches and hence it is a wrong policy.
Recovery of the huge bad loans is the top priority for banks, and merger will change the priority.
Hence it is a bad idea," he added."We can easily understand that mergers are a prelude to privatisation of banks and hence we need to vehemently oppose such moves," BEFI had said in a statement earlier this month.Most of the banks including SBI had informed their customer about strike call given by All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI).Follow TheIndianSubcontinent for latest election news and live coverage of assembly elections 2019 in Maharashtra and Haryana.Subscribe to our YouTubechannel, like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.