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Banking Strike likely between 30-31st May

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Banking Strike likely between 30-31st May

The biggest lender in India, State Bank of India (SBI), has declared that banking services may be affected between the 30th and 31st of May, 2018 in case the strike that has been proposed by unions of bank employees goes through. Bank unions have been seeking multiple demands including a hike in wages after the 2% salary hike proposal.

SBI has stated that the IBA (Indian Banks’ Association) has already issued its notification that a nationwide bank strike may be held on these dates and this may have already been informed to the UFBA (United Forum of Bank Unions). This organization is the umbrella for multiple unions of banking employees such as NCBE, AIBOC, AIBEA, INBEF, BEFI, AIBOA, NOBW, INBOC and NOBO.

The bank may be impacted by the strike and other banks may also feel the impact of the same. A memorandum has been previously submitted by the UFBU to the IBA after several demonstrations along with the Union Labor and Finance Ministries. A memorandum will also be furnished to the Secretary, Department of Financial Services.

Demonstrations may take place across various bank branches prior to the two-day strike. The strike may also be called in order to combat the delay of the IBA with regard to resolution of multiple demands and also the paltry 2% hike in wages proposed by the Government. Fast resolution of the wage revision exercise has been demanded by the UFBU along with proper salary increases and better service conditions. There is also a demand for inclusion of bank officers up to scale VII under the wage revision settlement exercise.

Other banks such as Canara Bank, Bank of Baroda and Punjab and Sind Bank have also stated that their banking operations may be impacted in case the strike takes place.

 

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