Banking services hit in Chittoor as employees begin 2-day strike

Tirupati: Banking services in Chittoor district were hit with the employees of public sector banks ,who began their two-day strike nationwide on Thursday, to press the Union government to withdraw the Banking Regulations (Amendment) Bill 2021 on the ground that it would damage the banking sector.

The employees working in the banks in the pilgrim city, who assembled under the banner of `United Forum of Bank Unions' (UFBU) at Union Bank of India, Ramanuja circle branch here, staged a dharna and indulged in sloganeering demanding the government to withdraw Banking Regulations Bill.

Addressing the bank employees, UFBU conveners Vijaya Bhaskar and Dantwant Kumar said the bill will endanger the banking sector and also hit hard the common man, farmers and other sections. The charges for online banking services will be increased steeply if the bill comes into force, they said, adding that the interest rates for loans will also be hiked while there will be no surety for the fixed deposits in banks or for funding government welfare schemes aimed at self-employment for the benefit of unemployed youth. The banking services in rural areas would become costly and agriculture loans for farmers may also be hit if the new banking bill is implemented, they cautioned. The employees' leaders warned that the employees would resort to indefinite strike if the bill is not withdrawn. SBI Employees Association leader DS Murthy and Rural Banks employees union leader Nageswar Rao also spoke.