Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / Policy/  Bank unions call for strike on 12 November over wage hike
BackBack

Bank unions call for strike on 12 November over wage hike

Bank unions say they are forced to give a strike call as IBA is sticking to 11% wage hike

The 27 public sector banks have a combined employee strength of about 8 lakh. Photo; Pradeep Gaur/MintPremium
The 27 public sector banks have a combined employee strength of about 8 lakh. Photo; Pradeep Gaur/Mint

Vadodara: Bank employees have given a nationwide strike call on 12 November to press for immediate resolution of wage hike issue, the talks on which remain stalled.

The United Forum of Bank Unions (UFBU), an umbrella organization comprising various employee bodies, has given the strike call. All-India Bank Employees Association (AIBEA) general secretary C.H. Venkatchalam said they were forced to give a strike call as Indian Banks Association (IBA) has rejected demand for higher wages and is sticking to their earlier 11% hike citing poor financials of the lenders.

IBA is the representative body of bank managements.

UFBU has decided to take out rallies on 30 October in all the state capitals and other centres across the country before observing the strike, Venkatchalam said.

The one-day stir will be followed by relay strikes on 2 December in the South, on 3 December in the North the next day in the West and on 5 December in the Northeast, he said.

AIBEA, with over 5 lakh members, is a major constituent of UFBU. Venkatchalam warned that if the IBA does not meet their demand, the unions will be forced to take more drastic steps like an indefinite strike. “We have categorically informed IBA that we will be reasonable and flexible in our approach provided the same is shown by the IBA on the issues raised by us. But IBA is adamant and has refused to improve their offer and stuck to 11% (salary) hike," he said.

The 27 public sector banks have a combined employee strength of about 8 lakh.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 14 Oct 2014, 11:10 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App