Trading volume in Indian currency and bond markets was hit for a second day on Friday following a two-day strike by about 900,000 employees at state-run banks, demanding higher wages and pension.
State-run banks, led by State Bank of India, the country's largest lender, control more than half the banking sector assets and dominate the fixed-income and foreign exchange markets.
"The strike is total everywhere. Most of the branches are closed," C.H. Venkatachalam, convenor of the United Forum of Bank Union, which represents all bank unions, said.
State-run banks, led by State Bank of India, the country's largest lender, control more than half the banking sector assets and dominate the fixed-income and foreign exchange markets.
"The strike is total everywhere. Most of the branches are closed," C.H. Venkatachalam, convenor of the United Forum of Bank Union, which represents all bank unions, said.
Read more: http://in.reuters.com/article/businessNews/idINIndia-41601020090807