What’s inside:
This article discusses a bank strike in Bihar that has severely disrupted banking services across the state.
On Wednesday, a major bank strike took place in Bihar, leading to a complete halt in banking operations. Employees from public sector, rural, and co-operative banks participated in the strike organized by the United Forum of Bank Unions (UFBU), causing significant issues for the public and businesses alike.
The impact was huge, with around ₹65,000 crore in financial transactions freezing in Bihar alone. Thousands of bank branches were shut down, affecting all critical banking services. This left many people, from everyday citizens to large traders, struggling to manage their financial tasks.
While some private banks stayed open, important services like cheque clearance and electronic transfers were still disrupted. People were seen waiting outside banks and ATMs for long hours, only to leave empty-handed as cash quickly ran out in many locations.
All cash transactions, cheque clearances, and other banking services were completely stopped due to the strike. This was particularly hard on businesses relying on cheque payments. The situation worsened after three days of holidays, leaving ATMs of government banks empty and forcing people to look for alternatives at private bank ATMs.
The main reason for the strike was the demand for a five-day work week for bank employees, who want Saturdays off. If the government does not respond to these demands soon, the unions are prepared to escalate their protests, potentially leading to more extended strikes that could further impact Bihar’s economy.
Summary:
- A bank strike in Bihar has disrupted all banking services.
- Public and co-operative banks were closed, affecting ₹65,000 crore in transactions.
- People faced long waits at banks and ATMs with cash shortages.
- Cheque clearances and cash transactions came to a complete standstill.
- Bank employees demand a five-day work week and may intensify protests if demands are unmet.
