Co-operative banks in Gujarat observe complete strike

Gujarat Global News Network, Ahmedabad

The co-operative banks in Gujarat observed a day long strike on Friday to press for their demand to restore deductions under 80P of Income Tax act.

All the 270 urban co-operative banks, 18 co-operative banks and Gujarat State co-operative bank observed complete strike and did not conduct any business.

A rally was taken out in every district of the state and memorandum were given to collectors, Jyotindra Mehta, Chairman of Gujarat Urban Co-operative Bank Federation said. The banks did not participate in the clearing house operations.

The strike call was given by National Federation of State Co-operative banks demanding restoration of IT exemption. The Union government has stopped deduction since 2006 which is adversely affecting profits of these banks.

For news in Hindi see our Hindi daily Chaupal Chronicle

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