Banks taking steps to deal with July 7 employee strike

With bank employees set to go on a strike on July 7, state-owned lenders today said they were taking steps to ensure their operations were not hampered. In a communiqué to the Bombay Stock Exchange, Dena Bank said measures were being taken for the smooth functioning of its branches on July 7. “The bank is taking all necessary steps in terms of the existing guidelines for smooth functioning of the bank's branches and offices to deal with the strike," it said. Union Bank said it was assessing the situation, while Punjab & Sind Bank said the strike, if held, would have minimal impact on its operations. Other banks are also said to be contemplating steps to deal with the strike. The United Forum of Bank Union (UFBU), an umbrella body of unions, had called for the strike to protest against the government's decision to dilute its equity in the banks and give foreign investors additional voting rights. An estimated one million employees across the banking system may participate in the one-day strike, the All-India Bank Employees Association had said. AIBEA Secretary Vishwas Utangi had, last week, claimed employees from foreign and private banks have also agreed to participate in the strike.

BS