Banking operations could be affected as employees of state banks will hold a national strike for two days starting today. The bank’s strike comes after a two percent wage increase failed to convince bank unions and several rounds of talks between banks and their employees’ unions made no progress. The revision of salaries for all banks expires on November 1, 2017.
Since the bank’s protest dates coincide with the end of the month, it is likely that salary withdrawals will be affected. ATM transactions can also be a success. In addition, the deposit in branches, the renewal of FD, the operation of treasury of the government, the operation of the money market would see the impact of the strike. Online banking operations, however, will be available at all times.
All Bank Employees Association of India (AIBEA), said Secretary General C H Venkatachalam. “It is a kind of insult to the employees of the public sector banks … to be offered this kind of short walk.” We had no choice but to strike, waiving two days of salary, “All the officials of the Bank of India “‘Said the general secretary of the Confederation (AIBOC), Ravinder Gupta.
The success of all government schemes such as Mudra, Jan Dhan and demonetization was ensured by public sector bankers, but the reward is a two percent increase, he said, adding that it is a great injustice for bankers who have worked hard to build the nation.
Bank union leader Ashok Gupta told NDTV that bank unions are not ready to accept a wage increase below 14-15 percent. The Bank Association of India refused to discuss their demands, he said.
In the latest salary review in 2012, employees had received a 15 percent salary increase, the PTI news agency quoted UFBU coordinator Siddhartha Khan in western Bengal as saying.
After the refusal, the Unified Forum of Banking Unions (UFBU), a body that groups nine banking unions, called a national bank strike against the wage increase proposed by the Association of Banks of India.
The vice president of the National Organization of Workers of the Bank, Ashwani Rana, told ANI: “On May 30 and 31, around 10 lakh bank employees across India will be on strike for the issue of salary review.”
The security guards of the ATM are also likely to participate in the bank strike.
The United Forum of Banking Unions has demanded the liquidation of the advance salary revision, the sufficient increase of the salary, the improvement in other conditions of service and the liquidation of the salary revision for all the officials until scale VII.
The Head of the Labor Commission supported the problems and asked the Bank Association of India to respond positively. He also said that officers and employees should be paid for hard work and not for profits.
Most banks, including State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB), have already informed their clients that the operation of branches and offices will be affected if the strike takes off . However, the operation of private banks such as ICICI, HDFC, Axis and Kotak Mahindra is expected to be normal, except for the delays in the clearance of checks. Withdrawal and cash deposit in branches of public sector banks would be affected.
“We urge our clients to take full advantage of digital banking services such as UPI, the MahaMobile application and Internet banking facilities for their transactions, and we have ensured that our digital banking systems and ATMs (for those who need cash) The convenience of our customers is available at all times, “said Ravindra P Marathe, MD, of the Bank of Maharashtra, quoted by the PTI news agency.
There are up to 21 public sector banks that control 75 percent of the total business in the country.
On May 5, the Bank Association of India offered a 2 percent increase, which was rejected by the unions as unfair. The Association refused to review the salaries of all the officers citing the bad financial situation of the banks. The large banks in the public sector had reported huge losses in the fourth quarter of fiscal year 2018 due to the growing uncollectible loans.