Customers, who were waiting at a money exchange in Ruwi to send money, said they had no idea when the money would reach their home, due to the strike.
"I had to send money for an emergency back home. But as Indian banking officials are on a strike, the money exchange officials here said the transaction would not happen till the strike ends. Anyway, I have sent my money and have informed my family members to look out for some other options to meet the emergency. The strike has upset my plans," an Indian expatriate said.
Over a million bank employees and officers working in 27 public sector banks, including the
Wage revision in public sector banks has been due since
"Customers approaching us to send money to
As most of the transactions are conducted through
"Even withdrawal of money sent from here to
According to Indian media reports, about 100 million cheques worth over
"Our business was running as usual. But as Indian banking officials are on strike, we are informing our customers that the transactions will be delayed till the strike ends. We are also trying to help our customers to complete transactions through the banks which are not on strike,"
The IBA, which represents bank managements in wage settlement talks with unions, is reported to have said that banks cannot afford more than 10 per cent salary hike due to steep growth in non-performing assets putting pressure on profitability. A 10 per cent hike would cost banks an additional
However, Finance Minister
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