HYDERABAD : Public, private sector and foreign banks across the country will remain shut on Wednesday due to a nation-wide strike called by the United Forum of Bank Unions (UFBU).
Around 10 lakh bank staff from all the unions, (including employees and officers), operating in the banking industry will observe a nation-wide strike on Wednesday, demanding immediate settlement of wage revision.
About 80,000 employees and officers working in around 5,000 banks across Telangana and Andhra Pradesh will go on strike. After delaying the bipartite settlement, which increases the salaries of the staff members, by two years, the Indian Banks’ Association (IBA) agreed to increase wages of employees by 11 per cent, which the Union Forum of Bank Unions (UFBU) have found completely unreasonable and unacceptable. Even after several rounds of negotiations, both parties failed to reach an agreement, following which UFBU declared a nation-wide strike.
‘’Even after all our protests, there has been no response from the IBA. In fact, there was a conciliation process held in Delhi on Tuesday by the chief labour commissioner and IBA had taken the same stand stating that they don’t want to come up from 11 per cent.
Earlier there were bilateral discussions between IBA and UFBU and even from those discussions, nothing have come up so we have no choice but to go on strike,” said VVSR Sarma, convenor, UFBU, state unit.