New Delhi, Dec 16 (KNN) One million bank employees and officials across the country would be observing a one day All-India strike on December-18 under the banner of United Forum of Bank Unions (UFBU) demanding early wage revision and stopping of banking reforms.

UFBU is the umbrella organization of all the 9 unions in the banking sector.

Among them are the Officers' Unions which are All India Bank Officers Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers Congress (INBOC) and National Organization of Bank Officers (NOBO).

UFBU met Indian Banks' Association (IBA) on December-14 to discuss wage revision of the bank employees in which UFBU didn't find the initial offer of IBA satisfactory.
All India Banks Employees Association, general secretary, V H Venkatachalam, said talks with the Indian Banks Association on Saturday did not yield any positive result and hence the strike.

The unions’ demand for early wage revision had been pending for almost a year, he said.

Venkatachalam further said, "They (IBA) said economy is in bad situation and cannot revise wages now, which we don't agree.”

The unions are also against reforms, including privatisation, mergers, licences to corporate houses, rising bad loans and others, he added.

The unions have also threatened to explore an indefinite strike option, if their demands are not addressed. (KNN/SD)