Inter-bank transactions - call, forex and gilts - came to a standstill with few deals being struck. Dealers said that the Reserve Bank of India's clearing house was open, but this did not amount to anything as inter-bank transactions were next to nothing. In the call market, stray deals at nine per cent and thereabout for small amounts were seen. On the retail side, cash transactions didn't take place on Wednesday.

Customers visiting bank branches were few. But, they were well-attended to and services were rendered to them. Private and few foreign-owned banks did report business as usual.

While quite a few unions such as the Bombay-based Indian Banks Officers' Confederation (INBOC), Indian National Bank Employees' Federation (INBEF) and Shiv Sena's Kamghar Sena stayed out of the strike, the strike call was almost a total success with the bigger state-run banks off the market.

Said INBOC's general secretary, Mr K K Nair, "Today's strike response varied from bank to bank. All branches of Bank of Baroda remained open. Same was the case with Central Bank of India and Union Bank India."

Workmen affiliated to the Indian Bank Employees' Federation and Union Bank of India led by the Shiv Sena's Kamghar Sena withdrew from supporting the one-day strike. However, the State Bank of India and Bank of India were major participants in the strike.