India Inc carts money to pvt banks to duck strike

MUMBAI: India Inc, small businesses and cautious individuals have started transferring money to private sector and foreign banks in the wake of a strike call given by public sector bank unions for next week. Private banks have already sent letters to corporate customers having payroll accounts with them, to transfer money to these accounts to avoid a cash crunch during the last week of the financial year. Customers would face major problems as the next clearing operation after March 23 would, in all likelihood, only be on April 2. If talks do not fructify, bank trade unions have threatened an indefinite strike from May 3.

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