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/ Companies / Bank employees on two-day strike from Wednesday
BackBack

Bank employees on two-day strike from Wednesday

Bank employees on two-day strike from Wednesday

Photo: Hemant Mishra/MintPremium

Photo: Hemant Mishra/Mint

Mumbai: Banking services such as cheque clearing may get disrupted for two days beginning Wednesday with the United Forum of Bank Unions (UFBU), an umbrella body of nine employee unions, threatening a strike.

Photo: Hemant Mishra/Mint

The unions claim the proposed legislation will promote privatization of Indian state-run banks and give more powers to foreign investors and Indian corporations in the running of private banks.

They are also against the Khandelwal committee’s recommendations for introducing variable pay in public sector banks and 50% direct recruitment of bank officers from the market.

The Indian Banks Association, an industry lobby of lenders, said banks will save up to 400 crore in terms of wages to the striking employees.

The unions decided to strike work after a meeting with the chief labour commissioner in Delhi on Tuesday ended inconclusive.

dinesh.n@livemint.com

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 Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 21 Aug 2012, 10:35 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie