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Bank strike hits call money, forex and financial markets

Nearly 1.3 million bank employees all over the country, owing allegiance to a union front comprising 12 bank unions, went on a one-day strike today.

About 80,000 bank employees in Bombay, the commercial capital of the country, have also joined the strike.

The striking employees are demanding higher wages and better service conditions.

The call money and financial markets also remained closed today.

There was no trading in the foreign exchange market. Certain foreign banks as well as private cooperative banks conducted business.

Due to the strike, the business, commercial and cheque clearance activities were badly affected.

UNI

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