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Business News/ Companies / News/  Bank strikes, holidays may shut banks for 5 days. Latest updates
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Bank strikes, holidays may shut banks for 5 days. Latest updates

Unhappy with their pay scale and merger of state-owned banks, the All India Bank Officers' Confederation (AIBOC) has called for a bank strike on Friday. And then on Wednesday, the United Forum of Bank Unions (UFBU), an umbrella body of the top nine bank unions, is sponsoring another shutdown.

In between Friday and Wednesday, banks will be open only on Monday. Two unions have called for bank strikes on Friday and Wednesday. Photo: MintPremium
In between Friday and Wednesday, banks will be open only on Monday. Two unions have called for bank strikes on Friday and Wednesday. Photo: Mint

New Delhi: Two days of bank strike and holidays in the extended Christmas weekend is likely to make most banks shut down operations for five days out of the next six days. In between Friday and Wednesday, banks will be open only on Monday.

Unhappy with their pay scale and merger of state-owned banks, the All India Bank Officers’ Confederation (AIBOC) has called for a bank strike on Friday. Most branches of public sector banks across India are likely to be shut as a result. Private sector banks would however remain open on Friday as its employees are not part of the strike.

This Saturday, the fourth in the month, is a bank holiday and so is Sunday. It would be on Monday when all banks will function as usual. But again on Tuesday, banks will be closed on account of Christmas holiday.

And on Wednesday, December 26, the United Forum of Bank Unions (UFBU), an umbrella body of the top nine bank unions, is sponsoring another shutdown over the proposed merger of Bank of Baroda, Dena Bank and Vijaya Bank.

About 10 lakh bankers in both private and public sector banks are expected to join the strike and therefore, all banks are likely to be shut on Wednesday.

“We have demanded wage revision based on the minimum wages formula without linking to profits or paying capacity," AIBOC joint general secretary Ravinder Gupta said.

The AIBOC strike call notice, which was issued after the confederation walked out of bipartite negotiations with the Indian Banks’ Association (IBA), demands full mandate for scale I to scale VII officers, introduction of five-day work week, salary revision according to the charter of demands and a defined benefit pension payment scheme unlike the NPS. It is also opposing the IBA’s offer to discuss the issue of wage revision of officers up to scale III with the Officers Associations.

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Published: 20 Dec 2018, 05:50 PM IST
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