Holidays, strike to hit bank transactions
MUMBAI (DHNS): Operations may be affected in July as there are 11 holidays
Banking transactions, especially of the state-run banks, are likely to be severely affected in July as 11 holidays are coming up during the month.
In addition to this, banking transactions are likely to be disrupted on two days during the month owing to bank employees’ strike.
About 45,000 employees of the five subsidiaries of State Bank of India will strike work on July 12 to protest against the government’s decision to merge it with SBI.
Besides this, over 5 lakh employees associated with the All India Banking Employees Association and 1 lakh employees affiliated to All India Banking Officers Association are set to strike work across the country.
Protest against reforms
The United Forum of Bank Unions will be striking work on July 29 to protest against the government’s banking reforms policy and the closure and merger of the public sector banks.
Woes of customers
Apart from this, regular bank holidays, including Eid, second and fourth Saturdays and five Sundays will add to the woes of bank customers.
According to experts, banking transactions, including cheque clearing and deposits, will be impacted due to the strike .
However, cash withdrawals are not likely to be affected much.