Bank unions strike, markets not disrupted

Bank unions strike, markets not disrupted
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First Published: Wed, Aug 20 2008. 07 41 PM IST
Updated: Wed, Aug 20 2008. 07 42 PM IST
Mumbai: Three bank unions representing some 600,000 workers went on strike on Wednesday to protest consolidation of state-run banks, but the action did not disrupt trading in the financial markets.
The strike did not include all bank unions, or major banks such as the State Bank of India and ICICI Bank Ltd.
About 500 bank workers shouting slogans and waving flags rallied close to the financial district in Mumbai.
Some state-run bank branches in the city were closed. In the financial markets, dealers said trading volumes were lower than normal but trade was not unduly disrupted.
Bombay Stock Exchange trading and settlements were not impacted by the strike, a spokesman said.
The unions behind the strike have said they will take further action if their concerns are not addressed.
Employees of leading lender State Bank of India went on strike on Monday and therefore did not participate on Wednesday, a union leader said.
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First Published: Wed, Aug 20 2008. 07 41 PM IST