Bank unions' strike: Here's everything you need to know

 BT Online   New Delhi     Last Updated: February 27, 2017  | 20:04 IST
Bank unions' strike on Tuesday: Here's everything you need to know

The bank unions have threatened to go for a one-day strike on February 28 to press for several demands including wage revision and accountability of top executives in view of mounting bad loans in the banking sector.

SBI and few other public banks have already informed their customers that the functioning of the branch may take a hit on Tuesday due to the strike though private banks like ICICI, HDFC and others  are likely to function normally but may have slight delay in cheque clearances.

1. The United Forum of Bank Unions (UFBU), an umbrella body of nine unions in the sector, has called a one-day strike on February 28. The UFBU comprises of nine unions in the banking sector -- namely AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.

2. Bank employees and officers in all public sector banks, including SBI, all old-generation private banks, foreign banks, Regional Rural Banks and Cooperative Banks will observe one-day strike.

3. The strike is to be held to protest the government's "anti-people banking reforms" as well as to demand compensation for employees for extra work done on account of demonetisation.

4. Unions are also opposed to the proposed labour reforms of the government and outsourcing of permanent jobs in the banking sector.
 
5. They have also demanded adequate recruitment in all cadres, stringent measures to recover bad loans and accountability of top executives. Besides, they have pitched for criminal action against wilful defaulters.

6. UFBU, who claims membership of nearly 10 lakh across banks, also requested the government for cost reimbursement of demonetisation to banks.

7. The conciliation meeting before the Chief Labour Commissioner on February 21 failed to break the deadlock as the bank management body -- Indian Banks Association (IBA) -- did not agree to the union demands, All India Bank Employees' Association (AIBEA) General Secretary C H Venkatachalam said in a statement.

8. Most state-run banks have informed customers that functioning of branches and offices will be hit if the strike goes ahead on Tuesday.

9. The functioning of private lenders like ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank is expected to be normal except delay in cheque clearances.

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