‘Penalising PSBs will hurt the public’

“There won’t be any over the counter banking operations during these two days. ATM operations will also be affected as cash won’t be refilled in the ATMs for the period. However, customers will be able to use their net, mobile banking facilities and use their debit cards as well.” 

According to the source, the government’s move of penalising PSBs for the mounting NPAs and shutting down loss making PSB branches located in towns where there are no private banks does not augur well for the banking sector in the long run. This will in turn affect the disbursement of agricultural, educational and home loans from PSBs which will ultimately hit the common man. 

When asked if the strike would affect the salaries of office goers, All India Bank Employees Association (AIBEA) General Secretary CH Venkatachalam said Venkatachalam said, “We had intimated the banks about the strike more than 20 days ago. Most corporates and PSUs had already disbursed the salaries and wages by Tuesday. Cheques won’t be cleared over the next two days, and neither will cash withdrawals take place.”