Indian bank unions call for nationwide strike

Indian bank unions call for nationwide strike
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First Published: Thu, Sep 11 2008. 11 51 AM IST
Updated: Thu, Sep 11 2008. 11 51 AM IST
Reuters
Mumbai: Indian bank unions have called a two-day nationwide strike starting 24 September to protest proposals for bank mergers and more voting rights for foreign funds in private banks, a senior union official said on Thursday.
“The UFBU also demanded the actions promised in its deal signed on 25 February with the Indian Banks’ Association be expedited,” C.H. Venkatachalam, convenor of the United Forum of Bank Unions (UFBU) said.
“Its been more than six months and nothing has been done, we want things to be expedited. In February, the IBA clarified had no policy to go ahead with bank mergers,” he said.
“The unions together have close to a million members,” he added. State-run Corporation Bank has informed the stock exchanges the strike may affect the normal functioning of its branches.
India has 80 commercial banks, including 29 foreign banks and nearly 3,000 urban and rural co-operative banks.
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First Published: Thu, Sep 11 2008. 11 51 AM IST
More Topics: India | Banks | Strike | Merger | Voting Rights |