Banking services hit as employees' strike continues for 2nd day

Today is the last day of the two-day strike being observed by the United Forum of Banking Unions (UFBU), an umbrella organisation consisting all nine unions of the banking sector.

Published: 31st May 2018 12:58 PM  |   Last Updated: 31st May 2018 12:58 PM   |  A+A-

By PTI

NEW DELHI: Banking services were hit across the country for the second day today as about 10 lakh bankers continued their strike to protest a "meagre" 2 per cent salary hike offered by Indian Banks Association (IBA) -- the management body.

Today is the last day of the two-day strike being observed by the United Forum of Banking Unions (UFBU), an umbrella organisation consisting all nine unions of the banking sector.

Banking operations are likely to become normal from Friday.

UFBU has claimed that the strike is "total success" as the employees have "enthusiastically participated in the strike in all banks and in all branches".

According to reports received by UFBU from various states and centres like Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad, Jaipur, Patna, Nagpur, Jammu, Guwahati, Jamshedpur, Lucknow, Agra, Ambala, and Trivandrum, employees have enthusiastically participated in the strike in all banks and branches.

There are about 85,000 branches of 21 public sector banks across the country having business share of about 70 per cent.

Operations in the new-generation private banks like ICICI Bank, HDFC Bank, Axis Bank, however, were almost normal, barring few activities including cheque clearance.

Nearly 10 lakh employees, working in various branches of 21 public sector banks, 13 old generation private sector banks, six foreign banks and 56 regional rural banks across the country went on a two-day strike yesterday as IBA offered them a nominal wage revision, All India Bank Employees Association (AIBEA), affiliate of UFBU had said in a statement.

Since the strike coincides with the month-end, salary withdrawals from branches were said to be affected yesterday and the situation is likely to remain same today as well, said sources in the banking sector and employees union.

Operations like deposits, FD renewals, government treasury operations, money market operations are also being reportedly hit by the strike.

In its last wage negotiation meeting held earlier this month, IBA proposed a nominal salary revision to bank employees and officers, owing to huge losses incurred by them in the last few quarters, bank unions said.

Wage revision in the banks has been due from November 2017.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp