NEWS & ADVICE : SAVINGS ACCOUNTS
Banking Employee Union to strike again!
By Joseph Samson
Sep 15, 2008
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Bank unions are planning to go on a strike soon. Again the union has decided for a two-day nationwide strike on September 24th and 25th to protest against the merger among public sector banks, their privatization and in support of their demands.

The decision was taken at a United Forum of Bank Unions' (UFBU) meeting in Chennai.

"We would be observing a two-day nationwide strike on September 24 and 25. Employees from all public sector banks will participate in the strike," said G D Nadaf, General Sectary of All India State Bank Officers.

Bank unions had entered into a memorandum of understanding with the Indian Banks Association in February this year with a view to sort out various issues in a time-bound manner. The union wants the actions undertaken in the deal to speed up, said C.H. Venkatachalam, convenor of the United Forum of Bank Unions (UFBU).

"It's been more than 6 months and nothing has been done, we want things to be expedited," he said. Also he confirmed that in February the IBA did not mention anything about the bank mergers that are speeding up in recent times.

A senior union official said that the there should be more voting rights for foreign funds in private banks. Other demands of the unions include one more option for pension, termination of contract system in the industry, early salary revision and immediate appointments of Class IV cadre.

Earlier on 18th August, SBI employees went on one day strike to protest on the merger of the State Bank of Saurashtra (SBS) with the State Bank of India (SBI).

Also, the employees of State Bank of India (SBI) are planning to go on an indefinite strike from October 20.

A few banks, including Corporation Bank and Central Bank, had said in their filing on Bombay Stock Exchange that it is likely that the normal functioning of the bank's branches may get affected.

India has 80 commercial banks, including 29 foreign banks and nearly 3,000 urban and rural co-operative banks that would not operate for these two days. The unions together consist of around a million members.


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