Reserve Bank of India employees will be on a one day strike today, making it the first strike in the last 6 years. The unions are opposing reforms in the sector and are fighting for better retirement benefits. This is the first strike in the tenure of the present RBI Governor Raghuram Rajan.
Several banking transactions are likely to be affected in view of the strike. These would include cheque clearance and foreign exchange. It is not certain whether the strike would be a prolonged one and what steps the concerned authorities would take to prevent the ones in the future.
The employees that are part of the four unions have applied for "mass casual leave".