Public sector bank strike hits operations

August 23, 2012 09:14

Services in the public sector banks were hit as staff and officers belonging to some unions on Thursday went on a two-day strike on Wednesday protesting against reforms in the sector, outsourcing of non-core services to private sector and demanding pension revision among others.

Normal banking operations, including cash transactions, cheque clearances, foreign exchange dealings were affected.

Customers were depending more on the ATMs as the bank managements had made advanced arrangement for loading the machines with cash.

"Several banks, including SBI, have outsourced cash- loading business with private firms. Most of the ATMs have enough capacity," a senior SBI official said. However, the fund movement of individuals and corporates would get affected because of delays in cheque clearances.

Besides, the volumes in the government bond market and share markets were also impacted.

« Back to LIVE

TOP STORIES

Does Mbappe Have A Twin?

Kylian Mbappe unveiled a waxwork in Paris before it is transferred to Madame Tussauds in Berlin.

Will Dhoni, Kohli Bowl On Saturday?!

Mahendra Singh Dhoni and Virat Kohli were spotted bowling during their net sessions.

Maliwal records statement; Kejriwal's aide skips NCW summons

Delhi Chief Minister Arvind Kejriwal's aide Bibhav Kumar did not appear before the National Commission for Women (NCW) on Friday in connection with alleged assault on Aam Aadmi Party Rajya Sabha MP Swati Maliwal.

NIA books Mumbai man in Pak plot to honeytrap Navy personnel

The NIA has charge sheeted Mumbai resident Amaan Salim Shaikh, a key accused in a conspiracy by Pakistani intelligence operatives to honey trap Indian Navy personnel to gather secret information on defence establishments, an official...

Recipe: Bethica's Hyderabadi Burfi

Time to surprise your family and friends with a really unusual dessert.