85,000 bank branches, 1 million bank employees, 40 lakh cheques at standstill today
Updated: Dec 18, 2013 01:44:18pm
New Delhi, Dec 18 (KNN) About 1 million bank employees across India are on a one-day strike today, with as many as 85,000 bank branches not operating to stage protest seeking wage revision and other demands.
The strike was called by the United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions, including five employee unions and four officer unions of state-run banks in the country demanding 40 per cent hike in salary and withdrawal of the proposals of banking reforms in favour of foreign banks.
“Across the country around 85,000 bank branches are not operating due to the strike and this has resulted in non-clearance of around 40 lakh cheques worth around Rs 24,000 crore,” said general secretary of All India Bank Employees Association (AIBEA).
“Besides, government transactions, foreign exchange and money market transactions are also affected,” he added.
However, Automated Teller Machines (ATMs) will be working but are likely to run out of cash due to panic withdrawal, according to AIBEA Joint Secretary R Vijayakumar.
The Unions are expected to meet on December-23 to decide the next course of action, including the option of going on an indefinite strike.
The national unit of the UFBU has decided to hold the strike after failing to get a favourable response from the government through the Indian Bank's Association (IBA) over the demands that it had submitted in the first week of November 2012.
There was a meeting held last Monday, which was unsuccessful.
A media report, quoting convener of north Andhra Pradesh unit of UFBU, JP Sarma said, “In 2007, bank employees got 18 per cent hike in salaries. The 2007 wage settlement in the banking sector expired in October 2012. Hence the revised settlement was due from November 2012. Surprisingly, the government now wants to give only 5 per cent hike.”
He added that they would take their future course of action on December-23 at a nationwide meeting at Hyderabad if today’s strike did not yield any results.
The nine unions which called for the strike include All India Bank Officers' Confederation (AIBOC), National Confederation Of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA), Bank Employees' Federation Of India (BEFI), Indian National Bank Employees' Federation (INBEF), Indian National Bank Officers' Congress (INBOC), National Organisation Of Bank Workers (NOBW) and National Organisation Of Bank Officers (NOBO). (KNN/SD)
The strike was called by the United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions, including five employee unions and four officer unions of state-run banks in the country demanding 40 per cent hike in salary and withdrawal of the proposals of banking reforms in favour of foreign banks.
“Across the country around 85,000 bank branches are not operating due to the strike and this has resulted in non-clearance of around 40 lakh cheques worth around Rs 24,000 crore,” said general secretary of All India Bank Employees Association (AIBEA).
“Besides, government transactions, foreign exchange and money market transactions are also affected,” he added.
However, Automated Teller Machines (ATMs) will be working but are likely to run out of cash due to panic withdrawal, according to AIBEA Joint Secretary R Vijayakumar.
The Unions are expected to meet on December-23 to decide the next course of action, including the option of going on an indefinite strike.
The national unit of the UFBU has decided to hold the strike after failing to get a favourable response from the government through the Indian Bank's Association (IBA) over the demands that it had submitted in the first week of November 2012.
There was a meeting held last Monday, which was unsuccessful.
A media report, quoting convener of north Andhra Pradesh unit of UFBU, JP Sarma said, “In 2007, bank employees got 18 per cent hike in salaries. The 2007 wage settlement in the banking sector expired in October 2012. Hence the revised settlement was due from November 2012. Surprisingly, the government now wants to give only 5 per cent hike.”
He added that they would take their future course of action on December-23 at a nationwide meeting at Hyderabad if today’s strike did not yield any results.
The nine unions which called for the strike include All India Bank Officers' Confederation (AIBOC), National Confederation Of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA), Bank Employees' Federation Of India (BEFI), Indian National Bank Employees' Federation (INBEF), Indian National Bank Officers' Congress (INBOC), National Organisation Of Bank Workers (NOBW) and National Organisation Of Bank Officers (NOBO). (KNN/SD)
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