Banks in Gujarat to go on strike for 4 days

Those who have scheduled offline transactions at public sector banks from March 26 to March 29 (Saturday to Tuesday) will have to put their plans on hold as these banks are expected to remain shut across the state for the period.

Members of Maha Gujarat Bank Employees' Association (MGBEA) on Wednesday announced a nationwide strike to protest the alleged anti-public sector banks policies of the government.

The closure of banks will impact transactions worth Rs 20,000 crore over a two-day period, suggest MGBEA estimates.

Trade and industry bodies, however, are irked by the decision of the banks that comes ahead of March 31, the end of the financial year. 

"Bankers may be protesting over a genuine issue but doing so just ahead of financial year closing is not fair because it will put businesses in a fix. A lot of transactions are made to close the account books. Unpaid dues are cleared and tax payments made ahead of the financial year-end," said Jayendra Tanna, president, Gujarat Traders' Federation.