Ludhiana: Bank operations hit due to strike

LUDHIANA: In another setback for Ludhiana businessmen, a large number of banks were shut by protesters forcibly on Tuesday, a lot of inconvenience was caused to them as they were unable to perform any banking operations. At several places the bank officials fearing safety of their staff and property, themselves chose to keep the branches shut down after seeing unruly crowds marching on the roads.On Gill Road alone half a dozen banks were closed down after opening initially in the morning. Later in the day, some banks did resume operations but by then there was a very low turnout of people who came for transactions.
According to Raj Kumar Singla, president of Fasteners Suppliers Association of Ludhiana, “Due to today’s protest banks near our office remained closed and as a result I was unable to transfer advance to place order of raw material to my supplier. With the delay in payment the supply of raw material will now be deferred, as a result I will not be able to execute my client’s order on promised date.”
“Banking operations under went a severe hit today. Even one day’s delay in paying interest on our loan accounts costs us dear and we could not even deposit and get encashed cheques received from our customers which were scheduled for today,” Inderjit Singh Navyug, president of United Cycle and Parts Manufacturers Association said.
Ajay Sehgal, member of UCPMA said, “Earlier in the morning, banks were open but by afternoon when I went to deposit cash into my own account so that I could make the NEFT transaction, the branch was closed by the staff citing security reasons and as a result I was unable to make the payment.”