Public banks go on a 2 day nationwide strike from May 30

Bank services might be affected as the employees of the public sector banks have called for two days nationwide strike from May 30, 2018.

The reason behind conducting the strike is due to the failure of employees-wage negotiation. The meeting on May 5, 2018, called by the Chief Labour Commissioner about salary revision went unsuccessful and all the 9 constituents of United Forum of Bank Unions (UFBU) have decided to call for the strike.  

All India Bank Officers’ Confederation (AIBOC) general secretary D T Franco said that the UFBU leaders conveyed their grievance.

IBA offered a 2% hike during the meeting, which was rejected by the unions, dissatisfied.

Around 21 public sector banks control 75 percent of the total business in the country. Banks including SBI

, PNB, and Bob have already notified their customers about the impacts due to the non-functioning of the banks during the strike. Withdrawal and cash deposits in the public sector banks would also be affected.

“All India State Bank Officers’ Federation and All India State Bank of India Staff Federation are members of UFBU. Thus, it is likely that our bank will also be impacted to some extent by the said strike calls,” SBI had said

in a regulatory filing.

Credits: The Economic Times