LIVE: Banks’ strike impacts clearance of 20 mn cheques worth Rs 16,500 cr


Employees of Allahabad Bank stage a protest during a nationwide banks’ strike against the privatisation of Public Sector Banks and retrograde banking reforms, in Patna on March 15, 2021. Photo: PTI

Banking services such as cash withdrawals, deposits, cheque clearing and business transactions were impacted across the country on Monday, the day one of the PSU bank union’s strike, against the proposed privatisation of two more state-owned lenders. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16, and claimed that about 10 lakh bank employees and officers of the banks will participate in the strike.

Meanwhile, the wholesale price index-based inflation doubled to a 27-month high in February, led by soaring fuel prices and an uptick in food prices. This effectively dims hopes for any policy rate reduction in the near term to spur economic growth amid the pandemic.

In another news, the CBI today questioned relatives of Trinamool Congress MP Abhishek Banerjee in connection with its investigation into the multi-crore coal pilferage case. The central agency had on Friday issued a notice to Ankush Arora, husband of Menaka Gambhir who is the sister-in- law of Banerjee, for questioning in the illegal coal mining case.
 

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