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Bank Strike: Rs. 20,000 cr Worth of Transactions Might be Affected
June 01, 2018
Photo credit: USDAgov on VisualHunt.com / CC BY
As nearly 10 lakh employees of Public Sector Banks (PSBs) have gone on a nationwide strike for 2 days, industry body Assocham has warned that it can affect customer transactions amounting to Rs. 20,000 crores. In view of this risk, it has also urged the union body UFBU to call off the strike.
Assocham said that the PSBs are struggling with a large number of Non-Performing Assets (NPAs) and their Q4 reports show losses totaling to Rs. 50,000 crores. Considering the gravity of the situation, it asked the government to intervene and restore the financial health of the weak lenders.
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