24/7 Newsfeed

Put Reason 24/7 on Your Site


Follow Reason 24/7 on Twitter and via RSS

One Million Bankers on Strike in India

About one million Indian bank employees have started a two-day strike, protesting against reforms that would allow more private capital into the financial sector.

In many cities across the country, banks were shut as thousands of employees, mainly the staff of state-run banks, demonstrated by holding banners and chanting slogans against the reforms in the financial sector, according to Reuters.

The largest lender the State Bank of India was forced to halt trading in onshore spot foreign exchange markets. It comes as a blow to the economy that faces its worst slowdown in almost a decade.

Source: RT. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.