Business Standard

Little impact on banking due to strike

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Press Trust of India Mumbai

As per the data available with the Reserve Bank, there was only a marginal drop of 3 per cent in the clearing transactions today.

"While on a normal day, the value of clearing transactions is around Rs 10,000 crore, it was Rs 9,700 crore today showing a marginal drop," a RBI official said.

The central bank also said all banks had participated in clearing operations today without anyone seeking exemption.

However, despite the nominal drop in value of transaction, volume significantly dropped today.

According to the central bank, total volume of transaction has declined by 38 per cent to 3.73 lakh against 6 lakh transactions on a normal day.

 

The total number of NEFT transactions (internet-based transfer of money) today touched 17 lakh today with a value of Rs 12,500 crore due to the strike coupled with month-end traffic.

Bankers also said there was no major impact on their operations today except a drop in footfalls at branches.

"There was no major impact due to the strike. However, footfalls at branches remained low," a HDFC Bank official said.

Similarly, banks also said there was no closure of branches due to the strike.

"By and large, there was no closure of branches due to the strike," a Axis Bank official said.

Despite repeated attempts, no data could be collected from SBI, with officials saying they were yet to get the numbers.

  

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First Published: May 31 2012 | 8:55 PM IST

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