Around 1 million bank employees are on strike across India. They are demanding salary revision. The strikers are unhappy with a proposed 2% wage rise offer as India’s current inflation rate is around 4.5%. Indian banks are one of the most troubled lenders in the world with high levels of non-performing assets. Indian banks' bad loans are worth more than $120 billion. High debts mean banks are stretched too thin to lend funds for fresh investments. The government is trying to help state-owned banks clean up their books and has approved $32 billion in recapitalisation. Banker’s justification in offering meagre wage rise because of losses to the banks is not palatable to employees Subscribe Now For Latest Updates- https://tinyurl.com/lbw8nze
Million bank workers continue strike on Day 2 - YouTube |
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| News & Politics | Upload TimePublished on 31 May 2018 |
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