The All India Bank Employees Association and Bank Employees Federation of India has informed the Indian Banks' Association of the two-day nationwide strike
PSBs need to get over the vexed issue of wage negotiation, and collectively work to promote an institutional environment
In the afternoon, over 5,000 bank staffers staged a rally at Mumbai's Azad Maidan and raised slogans opposing the proposed merger
With branches closed, cash transactions are also set to take a hit
According to AIBEA General Secretary C H Vekatachalam, the strike is effective across the country and employees are fighting for a right cause
The nation-wide strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts
Private sector banks will continue to function as usual
The strike call comes on the heels of an officers union of state-run banks observing a day-long strike last Friday
Given that the public sector banks alone control 75 per cent of the total business in the country, the public is sure to face some inconvenience
The unions have opposed the Indian Banks' Association's offer of a 2% pay hike
The United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, called for a two-day strike that started on Wednesday
The employees went on strike starting on Wednesday against the 2 per cent wage hike offered by the IBA
Banking operations across the public sector banks have come to a halt as a result of two-day strike on May 30-31 organised by the employees against a wage increment offered by IBA.
85,000 branches shut operations on Wednesday; 3.9 million instruments remain unprocessed
About 1 million bank officers are expected to participate in the strike on May 30 and May 31
Services like deposits and withdrawal at bank branches are affected
Branches of private banks like ICICI Bank, HDFC Bank and Axis Bank were functioning
Operations at pvt banks like ICICI Bank, HDFC Bank, Axis and Kotak Mahindra are going to be normal
T E NARASIMHANAround 10 lakh bank employees and officers to go on strike on August 22. The strike was called y United Forum of Bank Unions, which consists of all the 9 bank unions.The strike will be observed on issues and demands including not to privatise public sector banks, stop mergers and consolidation of Banks, do not write off corporate Non-Performing Assets(NPAs), declare willful Default of Bank loans as criminal offence, implement recommendations of Parliamentary Committee on recovery of NPAs are among the 17 demands.The Union also want the Government to ensure accountability of Top Management/Executives for bad loans and put in place stringent measures to recover bad loans and withdraw proposed FRDI Bill, abolish Banks Board Bureau and not to pass on the burden of corporate NPAs on bank customers by hiking chargesC H Venkatachalam, general secretary, AIBEA said that UFBU has observed that instead of taking urgent remedial measures to recover the alarmingly increasing bad ...