Cash in hand is better than double in the bank this week as bank employees and officers have decided to go on a strike on Wednesday and Thursday to protest the Banking Sector Reforms Bills that will be tabled in Parliament on Wednesday.
The call for strike was given by nine bank employee unions.
The shutdown will affect a large number of customers as they are going to have only one working day on Tuesday in five days.
“We are sure that we will not lose the support of the public as we have taken up the cause for their benefit,” general secretary of the Bank Employees Federation of India (BEFI), Andhra Pradesh, P. Venkataramaiah said.
The customers are in a tight-spot as the total closure will paralyse all banking services.
“As the closure comes soon after Eid, it will be difficult to keep the cash safe.
I will have to cart my safe-box home at the end of the day,” owner of a garment shop in Secunderabad Ajay Soni said.
The fear of ATMs running dry also has the public worried.
“Last year, during bandh, I could not get cash to fill petrol and had to push my bike from one ATM to another.
This time around, I will be better prepared,” Md. Mukhtar, a third year B.E student said.
The bank unions, however, assure that the two-day closure will not cause any inconvenience.
“Many banks have made provisions to monitor all ATMs and ensure that they have enough reserve cash on Saturday itself.
On Tuesday also we will do the same,” the general secretary of BEFI guaranteed.
The bank employees are protesting against the reforms bill which proposes to enhance voting rights of foreign investors in private banks and private individuals in public sector banks through amendments to existing acts.
As a fallout of this policy, several bank employees will be laid-off.
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