The all India strike held by bank employees on August 05, 2011 saw normal banking activities getting a big hit. With nearly 10 lakh bank employees and officers joining the strike against reforms announced by the government in banking sector, the strike got a big response.
The strike was called by the United Forum of Bank Unions (UFBF) and saw participation mainly from employees of public sector banks, regional rural banks as well as old private sector banks.
"Today's strike is only a protest signal. If steps are not taken by the IBA/Government to resolve our demands, the agitation will be intensified and more strike actions will be decided," said Mr C. H. Venkatachalam, Convener, UFBU.
The major cause of strike has been against government's stand on keeping mergers out of Competition Act along with offering unlimited voting rights to shareholders of private sector banks and raising the 1% ceiling on voting rights in case of PSBs to 10%.