AIBEA

The IBA and the bank managements have agreed to resolve the issues that resulted in the calling for a strike bilaterally with AIBEA

Banks notices say normal services could get affected but they are taking action to keep work going

They say no benefits were seen from previous rounds

Indian government-owned banks saw a reduction of 2,044 branches and about 13,000 employees in 2022 over the previous year, a major bank employees union said in Sunday.

Employees of public sector banks on Wednesday threatened to go on strike on June 27 to press for issues related to pension and the demand for five-days-a-week work. The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW), decided to go on strike. Their demands included updation and revision of pension for all pensioners and doing away with the national pension scheme and restore old pension scheme for all bank employees, AIBEA general secretary C H Venkatachalam said after the meeting of UFBU. AIBOC General Secretary Soumya Dutta said that about 7 lakh workers across the country would participate in the strike, if the government and management of banks are insensitive to the unions' demands. Banking operation may be impacted if the strike materalises.

The first day of the two-day strike in the banking sector was successful with several branches across the country remaining closed, said All India Bank Employees' Association (AIBEA)

Strikers demands include scrapping of labour codes, no privatisation of any form, scrapping of National Monetisation Pipeline

'Section 45 of the Banking Regulation Act gives the depositors the necessary protection'

Urging government to intervene and look at measures to merge the RBL Bank Ltd with a public sector bank, a top leader of AIBEA said that cats cannot morph into lions and tigers of juggle overnight.

The bank employees' body said the merger of LVB with the Indian subsidiary of a Singapore-based bank is goes against the Centre's 'Aatmanirbhar Bharat' policy.

RBI's role should be thoroughly probed, says AIBEA

The plan will accelerate Singapore-based DBS's expansion ambitions in India and potentially transform it from a largely digital bank in the country to one with hundreds of branches

The bank reported highest profit in nine decades in FY20 at Rs 65 crore

The risk of imprisonment for actions or omissions that aren't necessarily fraudulent or the outcome of mala fide intent is a big hurdle in attracting investments

The AIBEA said that people's money should be for people's welfare and not for private loot

The association's chief says RBI is now maintain the reserve at the lower band of 5.5% instead of at the higher band of 6.5%, leaving little room for it to meet unforeseen contingencies

The gross NPAs in public sector banks stood at Rs 5.39 lakh crore

In all 5,610 accounts blocked over Rs 58,000 crore of banks, says association