More than 10 lakh employees of PSU banks are participating in nation wide strike today. The two day nation strike by the banking employees is against 2% salary hike offered by the Indian Banks Association management. Not only the PSU banks, services in other private banks are also hampered with this.

As this is the end of the month, people are facing inconveniences as salary withdrawals are getting hit. Adding to the woes, even ATMs are not working well and cheque clearances are hampered too. No doubt, bank deposits, FD renewal, treasury operation, money market operations are facing hurdles at the fag end of the month.

According to the bank employees, in spite of the fact that the employees worked day in and day out during successful implementation of Mudra, Jan Dhan, demonetisation – they are not being gratified at all. As of now, there are 85,000 branches of the 21 public sector banks across the country. Most of the PSU banks have already informed the customers and subscribers regarding the inconvenience.

There is no denying the fact that banks have been the highlight of discussion in the last few months. NPAs have shot up 46.70% to Rs 8,40,868 crore. Six PSU banks made a loss of Rs 6,626 crore in the March quarter. In view of such, the Indian bank’s association has refused to revise wages for all officers citing poor financial condition of banks.

This time around, although ATM machines have been loaded with extra cash to avoid cash crunch, the situation is alarming. The government has not yet announced any settlement or discussion in this regard. The people of the country will have to face another day of utter inconvenience.