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Bank strike to impact operations on Friday

Unions in the banking sector had given the strike call protesting the merger of the five associate banks of the State Bank of India with SBI and the privatisation of IDBI Bank

Policy Pulse
Publish Date: Jul 28 2016 5:52PM | Updated Date: Jul 28 2016 5:56PM

Bank strike to impact operations on Friday

Banking operations will hit across in the country on Friday with at least 10 lakh bankers of 40 private and state-run banks striking work to protest Centre’s banking policies, an union leader said.

 
"The strike is on. We are not aware of any case filed by the banks or the Indian Banks Association (IBA) to restrain the nine unions of UFBU (United Forum of Bank Unions) from striking," C.H. Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), was quoted as saying by IANS.
 
Nine constituent units of UFBU are: AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.
 
Few days back, major bank unions deferred a two-day strike call for July 12 and 13 following a restraint order by the Delhi High Court.
 
Unions in the banking sector had given the strike call protesting the merger of the five associate banks of the State Bank of India (SBI) with SBI and the privatisation of IDBI Bank.
 
The union is opposed to the government's decision to merge the State Bank of Bikaner and Jaipur (SBBJ), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Mysore (SBM) and State Bank of Hyderabad (SBH) with the SBI.
 
"The strike will involve employees and officers of public sector banks, old generation private banks and foreign banks with a total of more than 80,000 branches," he said.
 
"We wanted to strike when Parliament is in session. Though the strike is on a Friday, the next day is a full working day for the banks. There will be no bunching of holidays," he was quoted as saying by the agency.
 
He said the strike was against the unwarranted banking reform steps.