Normal banking operations may hit today as government-owned banks go for a one-day strike today.

Around 4,500 employees from 700 bank branches in Saurashtra and Kutch will join the nation wide strike today called by the employee's unions of public sector banks to protest against the consolidation measures being adopted in the Indian banking industry.

The centre has said that consolidation is essential for the economy and meeting global banking standards.

The protest has been called by the All India Bank Employees Association and the All India Bank Officer's Association. All the members working at state-run, private and foreign banks have been asked to join the strike.

The Gujarat Bank Workers Association, Bank of India and Kutch Branches Staff Union members will not work today. However, co-operative banks employees will not be a part of the strike.

The strike is estimated to lead to a cost clearing of Rs 150 crore in Rajkot and nearly Rs. 1,500 crore in Saurashtra and Kutch.

The Associated Chambers of Commerce and Industry (ASSOCHAM) also says that consolidation of banks is necessary.