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Bank strike: Attention! Banks to remain closed on these days, ATMs, banking operations to be hit

Bank strike: If you have any important work pending at bank branch then you need to finish it before January 31. Bank' unions have called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA).

India TV Business Desk India TV Business Desk
New Delhi Updated on: January 23, 2020 15:04 IST
Bank strike: Banks to remain closed on these days, ATMs,

Bank strike: Banks to remain closed on these days, ATMs, banking operations to be hit

Bank strike: If you have any important work pending at bank branch then you need to finish it before January 31. Bank' unions have called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA). The timing of the bank strike assumes significance as it coincides with Budget 2020.

Also, the United Forum of Bank Unions (UFBU), which represents nine trade unions, said they will also hold a three-day strike from March 11-13.

"From April 1, we have decided to go on an indefinite strike," UFBU state convenor Siddartha Khan told PTI.

UFBU is seeking at least a 15-per cent hike, but the IBA has capped the raise at 12.25 per cent, he said.

"This is not acceptable," Khan said.

The last wage revision meeting was held on January 13.

Why bank unions called strike:

Most of the lenders had informed their customers in advance about the strike call given by All India Bank Employees Association (AIBEA), All India Bank Officers’ Association (AIBOA), BEFI, INBEF, INBOC and Bank Karmachari Sena Mahasangh (BKSM), and its impact on banking services.

Unions are demanding wage revision settlement at 20 per cent hike on payslip components with adequate loading. In the past wage settlement, which was for the period November 1, 2012, to October 31, 2017, the employees got a 15 per cent hike. The wage revision for employees of public sector banks is pending since November 2017.

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