Bank strike today: Things you must know

New Delhi: Normal banking operations have been hit as public sector bank employees went on a one-day nationwide strike on Tuesday to protest against the government's proposed consolidation move, besides raising other demands.

Services like deposits and withdrawal at bank branches, cheque clearance, NEFT and RTGS transactions are affected.

West Bengal convenor of UFBU, Siddhartha Khan said that the government is ushering in privatisation and consolidation in the Indian banking sector in the garb of reforms.

He said that the Bank Board Bureau had been formed to bring all the public sector banks (PSBs) under a banking investment company and get the government's share in PSBs below 50 per cent.

Rise in the gross NPAs of all the PSBs to Rs 6.83 lakh crore was also a major cause for concern and the banking system's financial health was suffering due to provisioning.

With PTI Inputs