Banking service resumes after 2 days strike against privatization of PSBs

Srinagar: Banking services resumed on Wednesday after remaining suspended for two days due to nationwide strike called by employees unions against the privatization of Public Sector Banks (PSBs) and retrograde banking reforms.

However, Automated Teller Machines (ATMs) were working though people in some areas alleged that many ATMS in the valley had dried up as the cash was not refilled for the four successive days since Saturday.

However, all bank branches were functioning normally and customers could be seen withdrawing and depositing cash and cheques today.

The United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, decided to go on a two-day national wide strike from Monday to protest against the proposed privatization of two state-owned lenders.

However, branches of private-sector lenders like J&K Bank, ICICI Bank, HDFC Bank and Axis Bank were functioning normally as they were not part of the strike.

Branches of all the centralized banks, including the State Bank of India (SBI), remained closed for the two days from Money, causing inconvenience to the customers, who were caught unaware of the strike. Despite banks, including SBI, claiming that the customers were informed about the strike, people in the valley alleged that no prior information about the strike was communicated to them.

“On March 13 the banks were closed in view of holiday on second Saturday of the week. Sunday was a weekend holiday. Yesterday and today the banks are closed due to the strike,” the customers said.

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