HYDERABAD: Banking operations are likely to hit for 48 hours as the United Forum of Bank Unions (UFBU) has called for a nation-wide strike from 6 am on May 30 to 6 am on June 1, demanding revision of wages for bank employees which is due since November 1, 2017.
The Union members said despite 12 rounds of negotiation, the wage settlement was inconclusive. Even after the Union Finance Ministry has advised the Indian Banks’ Association (IBA) in January 2016 to conclude the wage settlement, nothing has been done, they said.
Several reminders were also sent in this regard during the last two years, but to no avail. The IBA had offered a ‘meagre’ initial offer of 2 per cent hike in wages. The UFBU said 70 per cent of the operating profits are being siphoned off through bad debts and NPAs.