2 day bank strike starts, 10 lakh bankers on protest mode

More than 10 lakh bankers in the government and private sectors are on a two-day strike from today, as the Indian Banks’ Association (IBA) did not make any improved offer over the two per cent wage hike made earlier, according to All India Bank Employees Association (AIBEA).

Last ditch efforts to defer the strike failed as the meeting between United Forum of Bank Unions (UFBU) representatives and the Labour Department, Finance Ministry and Indian Banks Association officials could not break the deadlock.

All India Bank Officers Confederation General Secretary D Franco said, “The UFBU leaders conveyed their grievance that there is an inordinate delay, an offer of 2 per cent was not in good taste and the practice of wage negotiation for officers up to Scale VII which has been the practice has to continue.”

Of the around 2.20 lakh ATMs in the country, some are outsourced. Though there may be cash in the ATMs, customers tend to panic in the event of strike and withdraw large sums of money. Banking operations, intra-government transactions, transaction clearances, import bills, among other transactions will be impacted over the 48-hour period.

The strike is likely to affect the banking operations across the country. Cash withdrawals from ATMs and cheque clearance are likely to be hit, banking sources said, “as the strike has come during the month end, salaried class and small units are likely to bear the brunt.”

The strike is likely to affect the banking operations across the country. Cash withdrawals from ATMs and cheque clearance are likely to be hit, banking sources said, “as the strike has come during the month end, salaried class and small units are likely to bear the brunt.”