- The United Forum Of Bank Unions plans a one-day strike on September 11
- All India Bank Adhikari Sena and Bank Karmchari Sena propose a strike Sept 28-30
- UFBU, AIBASM, and BKSM have proposed an indefinite strike starting October 26
The United Forum Of Bank Unions (UFBU) and All-India Bank Officer Association (AIBOA) have proposed to go on a one-day strike on Sept 11, according to an exchange filing from the Union Bank of India. They are expected to be joined by All India Bank Adhikari Sena Mahasangh (AIBASM) and the Bank Karmchari Sena Mahasangh (BKSM) for a three-day strke from Sept. 28-30. The UFBU, AIBASM and BKSM have proposed to go on an idefinite strike on Oct 26.
The Union Bank of India stated in its filing that it is unable to "quantify the impact" of these strikes and that it would take "all necessary steps" in accordance with existing guidelines to ensure the smooth functioning of its operations.
"In the event of materializing of strike, the functioning of the bank's branches and administrative offices across India may be affected," the filing said.
The Central Bank of India also acknowledged the same and conveyed its intention to maintain functioning of its operations in line with current norms via an exchange filing.
Union Bank of India Share Price Movement
The Union Bank of India Ltd.'s share price saw a 0.37% upmove to settle at Rs 183.89 at the end of the day's trade, compared to a 0.86% downturn of the NSE Nifty 50.
The stock opened at Rs 181.75, compared to its previous close of Rs 183.22. During today's trading session, Union Bank Of India share price moved in the range of Rs 180.82 to Rs 183.89.
Looking at its last 52-week performance, the stock has touched a low of Rs 127.87 and a high of Rs 205.49. On the performance front, Union Bank Of India share price is up 44.52% on a year-on-year basis.
The market capitalization of Union Bank Of India is Rs 1.06 lakh crore, with a P/E ratio of 8.42.
(This is a developing story.)
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