Dhanlaxmi Bank stock under pressure as employee unions hold a strike in Kerala

Dhanlaxmi Bank said "Bank is taking necessary steps for smooth functioning of Bank's Branches/Offices on the day of proposed strike."

Oct 22, 2021 12:10 IST India Infoline News Service

Dhanlaxmi Bank has announced that the All India Bank Employees' Association (AIBEA), Bank Employees' Federation of India (BEFI), Indian National Bank Employees' Federation (INBEF) and All India Bank Officers' Confederation (AIBOC) have given a call for strike in the Banking Industry in the State of Kerala on Friday.

The Indian Banks' Association (IBA) has informed the lender about the strike.

In its regulatory filing, Dhanlaxmi Bank said that "The strike is not for any issues specifically related to Dhanlaxmi Bank though it may affect the banking industry in the State of Kerala in general."

Further, Dhanlaxmi Bank said "Bank is taking necessary steps for smooth functioning of Bank's Branches/Offices on the day of proposed strike. The alternative and digital banking channels will also continue to function normally."

However, the Bank also said that in the event of strike materializing, the functioning of the branches / offices in the State of Kerala may be affected.

At around 12.39 pm, Dhanlaxmi Bank was trading at Rs16 per piece down 0.6% on Sensex. The stock has touched an intraday low of Rs15.80 per piece earlier today. 

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