Bank Strike Enters Day-2, Activities Expected To Return To Normalcy Tomorrow

IBA to be blamed for the standoff : Employee Unions

A hike in salary is no-hike when it’s closeted in a 2% bracket. About 10 lakh bank employees have been stirring against it for the past two days. All India Bank Employees Federation’s (AIBEF) General Secretary CH Venkatachalam said on Thusrsday that we have lost a good whopping Rs. 43,000 crores during these two days.

It’s Indian Banks Association (IBA), which is to be blamed for that. IBA has put Bank employees in a tight spot. A reaction to that was certainly going to come up. India has lost its money, while banks have happily saved on their daily operations cost.

DT Franko, General Secretary of All India Bank Officers Confederation (AIBOC), concurs with him. He blames IBA for its decision to send a comparatively junior officer to negotiate bank employees’ salaries in the good offices of Chief Labor Commissioner (New Delhi).

Frank maintains, this cavalier attitude was certainly measured to invite Employees’ agitation. Now, members of nine bank employee unions have come out of their offices. It was the doing and design if IBA.

United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, called for a two-day strike that entered second day on Thursday. UFBU has claimed that the strike is total success as the employees have enthusiastically participated in the strike in all banks and in all branches.

However, a report says that 25 percent of bank branches kept working on both days of the strike. There are about 85,000 branches of 21 public sector banks across the country having business share of about 70 per cent.

Operations in the new-generation private banks like ICICI Bank, HDFC Bank, Axis Bank were almost normal, barring few activities including cheque clearance.

Banking activities are expected to be normal from Friday.

Nearly 10 lakh employees, working in various branches of 21 public sector banks, 13 old generation private sector banks, six foreign banks and 56 regional rural banks across the country went on a two-day strike yesterday as IBA offered them a nominal wage revision.

Operations like deposits, FD renewals, government treasury operations, money market operations are also being reportedly hit by the strike.

In its last wage negotiation meeting held earlier this month, IBA proposed a nominal salary revision to bank employees and officers, owing to huge losses incurred by them in the last few quarters, bank unions said. Wage revision in the banks has been due from November 2017.

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