News

ATM run likely due to bank strike in India

August 22, 2012

India's banking public braced for limited cash access as employees of both public and private sector banks staged a two-day strike, starting today.

According to IBN Live, the walk-out is in protest of a number of issues, including a proposed Banking Law Bill, the planned closure of rural branches, arbitrary HR procedures and the outsourcing of bank jobs.

The IBN article said that about a million bank workers — including both staff and officers  — were expected to take part in the nationwide walk-out. The action would be likely to affect ATMs as the public made a run on cash to tide them over during the strike.

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