Services To Be Impacted On May 30-31 If Bank Unions Go On Strike, Says SBI
The country's largest lender State Bank of India Ltd. today said its services may be impacted on May 30-31 if the proposed strike by various bank employees' unions take place.
The bank unions have been pressing for various demands, including wage revision in the wake of the proposal for a 2 percent hike in salary.
State Bank of India said the Indian Banks' Association has communicated to the bank that the United Forum of Bank Unions has served a notice to go on a nationwide bank strike on May 30-31, 2018.
UFBU is an umbrella body of various bank unions like AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.
All India State Bank Officers' Federation and All India State Bank of India Staff Federation are members of UFBU. Thus, it is likely that our bank will also be impacted to some extent by the said strike calls.SBI Statement
According to a UFBU circular, earlier on May 16, it gave a memorandum to IBA followed by demonstrations. It also gave a memorandum to the finance ministry and labour ministry.
Tomorrow, it is slated to give a memorandum to the secretary of the Department of Financial Services. Subsequently, demonstrations have been planned at bank branches in all centres before the two-day strike commences at month-end.
The call of the strike among others also opposes IBA's delay in resolving a charter of demands, government's casual approach to wage revision for bank employees, a meagre offer of 2 percent hike in wage revision.
UFBU has demanded an expeditious and early wage revision settlement, adequate increase in salary and improvement in other service conditions and wage revision settlement to include all officers up to scale VII.
Several others banks, including Bank of Baroda, Canara Bank and Punjab and Sind Bank, have also said that their services and functioning are likely to be impacted if the strike takes place.
“If the strike materialises, a certain section of the Bank's employees may participate in the strike on the said date, in which case, it is likely that the normal functioning of the branches / offices of the Bank may get affected,” PSB said last week.
The bank said it is taking all necessary steps in terms of the existing guidelines to deal with the strike and for the smooth functioning of Bank's branches/offices.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets