As the negotiations on 2% wage hike failed to convince the bank unions, the bank employees have declared to go on a two-day nationwide strike. The two-day nation-wide bank strike which kicks off at 6 AM on 30 May (Wednesday) could trigger a country-wide cash crunch, said C H Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA).
“People will start withdrawing money, creating a panic situation and many ATMs could go dry,” he said, according to reports.
Banking operations, intra-government transactions, transaction clearances, import bills are going to be impacted.
The bank unions have been pressing for various demands, including wage revision in the wake of the proposal for a 2% hike in their salary.
Around one million bank employees will go on strike from tomorrow. The two-day nationwide strike will end on Friday, 1 June at 6 AM.
ICICI Bank, HDFC Bank, Axis Bank, YES Bank and IndusInd Bank will not be impacted by the strike as these five banks have no trade unions and hence won’t participate in the two-day strike called by around nine bank unions.