Two-Day Bank Strike To Take Place Next Week; Check Dates And Other Details
A two-day bank strike has been called by the UFBU in the next week. Learn more about the date and other details.
Two-Day Bank Strike: Dates
A two-day strike has been called by the United Forum of Bank Unions (UFBU), the governing body of trade unions in the banking industry, starting on January 30. In a statement to the press, the UFBU said that it has decided to call for a strike on January 30 and 31 in reaction to the Indian Banks' Association's failure to respond to the demands made during a meeting held in Mumbai on Thursday.
Why Is The Bank Strike Happening?
The list of demands made by the UFBU are as following:
· Five banking days
· Updation of the pension system
· Residual issues
· Abolition of the National Pension System (NPS)
· Immediate negotiation for pay revisions
· Sufficient hiring across all cadres
Mahesh Mishra, the state convener for the UFBU, claimed that despite the union's efforts over the previous 28 months to find a solution to their outstanding requests, the Indian Banks Association had not responded favourably. So, if this strike occurs, it will occur before Nirmala Sitharaman, the finance minister, presents the Union budget on February 1.
Banking Services That May Be Affected
The State Bank of India (SBI) has alerted customers that the planned two-day all-India bank strike announced by the Union Forum of Bank Unions (UFBU) on January 30-31 may impact banking services at its branches.
In a regulatory filing on January 24, SBI stated that they had been informed by the Indian Banks' Association (IBA) that the United Forum of Bank Unions (UFBU) had served a notice of strike, informing them that the members of the constituent unions of UFBU, namely AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC, propose to go on a nationwide bank strike on January 30 and 31 in support of their demands.
However, SBI claimed that the appropriate preparations had been made to ensure that business would continue as usual at its branches. The bank suggested that the strike call might have an impact on ordinary work.
