Banking operations were hit on Wednesday as employees of public sector banks went on one-day strike called by the Untied Forum of Bank Union (UFBU), an umbrella body of All Bank Unions regarding early wage settlement and other demands.
The impact of strike was prominent and visible among business class group as they were not able to make any transactions because of no banking facilities. A large number of Automated Tellers machines (ATMs) ran out of money. Owner of Hero Honda showroom at Ratu Road Bhanu Jalan who was distressed with the strike said, “last night I collected a cheque of Rs 50,000 from one of the party against delivery of the products which I had forward today to my company for remitting back my commission on the sale amount. The strike has delayed my payments.”
Another businessman said, “I am running out of stock and have to wait for two more days for clearance of the cheque and getting it credited on the company account for the delivery of the stocks.” Besides businessmen, many college students were also found baffled with the scenario. Neha Keshri, a student of Women College, Ranchi. went to nearby State Bank ATMs for withdrawing hostel fee but ATMs ran out of dry before she could withdraw money. She hurried to the Union Bank of India’s ATMs but to no avail. She said, “Today was the last date of hostel fee payment, next day I have to pay Rs 50 extra as late fine. Due to some unavoidable circumstances my dad deposited the money last night to assure that the fee is paid on time but strike has ruined it all.”
The banks also suffered a huge loss due to strike. According to lead District Manager at Bank of India SD Ghosal it was difficult to calculate the exact loss as the transaction fluctuates but it is estimated that around Rs 60- 70 crore loss the banks have to suffer in the strike.