Bank strike over reforms hits services across India

"The instrument value and number would go up further tomorrow when the strike continues the second day," he added.

With the strike slated to continue Tuesday, customers face the prospect of more ATMs running dry without cash replenishment.

UFBU earlier called a strike for Jan 20-21, which was deferred after the Indian Banks Association (IBA) increased its initial offer to 9.5 percent, from 5 percent, with a promise to improve it further.

However, at the discussions on Jan 27, the IBA increased its offer by just 0.5 percent to 10 percent, which was rejected by the UFBU. It has been seeking an increase of 30 percent on the grounds that wage revision is pending since November 2012.

UFBA said it called the strike as the discussions on wage revision have been very tardy since the last one year.

Government transactions, foreign exchange transactions and money market operations were also affected.