Market ends marginally low; realty, PSU banks shine
Sensex and the Nifty 50 ended with mild losses due to profit booking following a steep rise of almost 2% in the previous session.
Banking operations across the country were partially put at a halt on Thursday after some of the bankers, who are part of the bank unions joined the one-day nationwide strike called by central trade unions.
Operations like cash transactions at branches, forex and government transactions have been impacted in many public sector banks where participating unions are strong.
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However, State Bank of India and private sector banks are functional.
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Ten central trade unions, except Bharatiya Mazdoor Sangh, are observing the nationwide general strike to protest against various policies of the central government.
The All India Bank Employees’ Association (AIBEA), All India Bank Officers Association (AIBOA) and Bank Employees Federation of India (BEFI) are participating in the strike. Besides, All India Bank Officers’ Confederation (AIBOC) has extended fraternal support to strike.
The strike by unions is against anti-labour policy of the government and bank employees are protesting against the privatisation of banks, outsourcing and contract system in jobs in the sector, AIBEA general secretary C H Venkatachalam said.
“Lok Sabha in its recently held session has passed three new labour enactments by dismantling existing 27 enactments in the name of ‘Ease of Business’, which are purely in the interest of corporates.
“In the process, 75 per cent of workers are being pushed out of the orbits of labour laws since they will have no legal protection under the new enactment,” he said.
Ten central unions have participated in the general strike. These include Indian National Trade Union Congress (INTUC), All India Trade Union Congress (AITUC), Hind Mazdoor Sabha (HMS), Centre of Indian Trade Unions (CITU), All India United Trade Union Centre (AIUTUC), Trade Union Co-ordination Centre (TUCC) and Self-Employed Women’s Association (SEWA).
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