- Tuesday, April 23, 2024
By: Lauren Codling
AROUND one million bank employees went on strike across India Wednesday (30), a union representative said, demanding better pay and a government crackdown on companies who willfully default on loan payments. Some 5,000 workers chanted slogans and waved banners at a protest in the financial capital Mumbai, union boss Devidas Tuljapurkar said, as they claimed they were paying the price for India’s mountain of bad debts. The Asian giant’s troubled lenders have some of the highest levels of debt in emerging markets, weighed down by billions of dollars of non-performing assets (NPAs) also known as bad loans. The two-day strike,…
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