Transactions in the public sector banks in the entire country came to a standstill as their employees resorted to strike on their charter of demands.
The public sector bank employees had refused 10% salary hike proposed by the Indian Banks Association during the talks held in the presence of Chief Labour Commissioner on February 6. The striking employees are contending that the proposed pay hike was not in proportionate to the inflation. They demanded that the Indian Banks Association increase their pay by 30 per cent to neutralize the inflation. When their demand was rejected, the employees launched the two-day agitation bringing the banking activity to a grinding halt. However, the private banks are working normally. (NSS)