Operations in public sector banks suspended in Kashmir due to strike

BK Online/ Srinagar
August 22, 2017 BREAKING NEWS 161 Views
Operations in public sector banks suspended in Kashmir due to strike

Normal banking operations came to a grinding halt in public sector banks in Kashmir valley due to a day-long countrywide strike called by the United Forum of Bank Unions (UFBU) against the Centre’s proposed consolidation move, besides raising other demands.
However, the work in private sector banks, including J&K bank, ICICI and HDFC bank, was functioning normally.
Services like withdrawal and deposits at bank branches, besides cheque clearance, NEFT and RTGS transactions have come to a halt, badly affecting lakhs of customers in the state, including Kashmir valley. “I have no clue why the bank in closed. I have to deposit money in my son’s account, who is in Delhi. It will be very difficult for him to arrange the fee for his examination,” said Shabir Ahmad, who was enquiring about reason for the closure of the financial institute outside Syndicate Bank on Exchange road.
The UFBU, which is an umbrella body of nine unions, including All India Bank Employees Association (AIBEA) and the National Organisation of Bank Workers (NOBW), is protesting against consolidation move of the government.
The UFBU is also demanding that there should be no write-off policy for non Performing Assets (NPAs) of corporate loans, declaring willful default of loans as criminal offence, besides other demands.

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