Banking operations came to a standstill in Indore as more than 4,000 bank officials and employees went on strike to press for their demands of wage revision on Wednesday.
No financial transactions took place at 348 different branches of 19 nationalised banks and nine private banks after bank staff decided to shut during the day causing inconvenience to a large numbers of customers. Salary related issues were the major cause behind the strike.
Speaking to Hindustan Times, Mohankrushna Shukla, chairman of Madhya Pradesh Bank Employees Association and convener, United Forum of Bank Unions (UFBU), an umbrella organisation comprising various employee bodies, said, "Today’s day-long strike is a part of four-day nation-wide strike. On December 2, banks in southern part of country kept their operations closed, while on Wednesday banks from northern India joined the league and kept their operations closed for a day. On Friday and Saturday, banks from eastern and western part of country will remain closed respectively."
About estimated loss in banking operations due to the strike, Shukla said, "Magnitude of banking transactions remains around Rs 1600 crore per day across the state, including Rs 300 plus crore alone in Indore. We were forced to go on strike as management was not ready to listen to grievances of bank officials and employees."
"Our wage revision is pending since October 31, 2012 and we are fighting for it from a long time,” Shukla said. Shukla said further, “The last wage revision took place in year 2007."