Banking operations in the country's financial capital especially at branches of state-owned banks were hit today by a nation-wide strike to protest merger of PSU banks and proposed hike in FDI limit to 74% in the sector.Banking activities came to a stand still as banking staff stayed away from work following a call by United Forum of Bank Unions (UBFU), the umbrella body comprising nine major bank unions representing officers and employess in the country.The strike aslo affected treasury and foreign exchange operations at large PSBs significantly."The strike is complete and this overwhelming response is a clear indication of union's stand against government policies on banking," union officials said.The banking unions also orgainsed protest marches and demonstrations before branches and headquarters."Employees under the banner of UBFU have decided to go on country-wide strike opposing M&As among Indian banks and proposed hike in foreign investment upto 74% in private banks," union officials added.The UBFU has also decided to take up the issue with Congress chief Sonia Gandhi and all major political parties.An All India Bank Officers' Confederation official said employees of old private sector banks would also be participating in the strike while other private banks' employees have also expressed their solidarity with UBFU.
