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Bank strike this week: Services to take hit on January 31, February 1

SBI latest news: Banks to go on a nationwide strike for 2 days starting from January 31. Here's all you need to know

twitter-logoBusinessToday.In | January 28, 2020 | Updated 13:31 IST
Bank strike this week: Services to take hit on January 31, February 1
Several bank employees had gone on strike earlier this month in support of 10 trade unions against "anti people policies of the government"

SBI and other PSU banks have notified their customers that services are likely to be affected due to the proposed two-day nationwide strike starting from January 31. Bank unions across the country have threatened to go strike from January 31 in order to press for wage revision. The United Forum of Bank Unions (UFBU) has given the call for the January 31 bank employees strike. The UFBU is an umbrella organisation that includes 9 bank unions such as All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers.

According to a tweet by the AIBEA, the meeting with the CLC (Chief Labour Commissioner) was futile. So, the bank unions are going ahead with the strike.

According to a statement issued by the AIBEA General Secretary CH Venkatachalam, wage revision for public sector bank employees is pending since 2017, and there's a lack of clear commitment from the Indian Banks' Association on the unions' demands.  The statement made by Venkatachalam read, "IBA's rigid approach has left us with no option than to go on strike. We appeal to the banking customers to bear with us for this disruption in services due to the strike but the same has been forced on us by the bank managements and IBA."

Many public sector banks such as SBI have informed their customers that the services could be affected owing to the strike. In case the proposed strike happens then it will coincide with the beginning of the Budget 2020 session and its presentation. The UFBU also alleged that the approach of the Indian Banks' Association on demands for wage revision settlements was rigid. The UFBU circular read, "In this background, the meeting of UFBU held at Mumbai on January 13 came to the unanimous and inescapable conclusion that intensified agitational actions have to be resorted to press our demands for reasonable resolution and satisfactory settlement."

The unions are demanding 20 per cent hike on pay slip components with adequate loading. The past wage settlement happened in 2017 wherein the employees got a 15 per cent hike for the period November 1, 2012 to October 31, 2017. Earlier in January, several bank employees had gone on strike in support of ten trade unions against the "anti-people policies of the government".

Also read: SBI customers take note! Banking services to be impacted on Jan 31st, Feb 1

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