Bank employee unions have been opposing the 2% wage hike proposed by the Indian Banks' Association (IBA) Banking operations could be hit as employees of state run banks are set to go on a two-day strike starting Wednesday, May 30.
Bank employee unions have been opposing a 2 per cent wage hike proposed by the IBA or Indian Banks' Association, among other demands.
Several rounds of talks between banks and the unions of their employees have failed to make any headway so far.
The UFBU or United Forum of Bank Unions, an umbrella body of bank unions, had earlier this month notified a 48-hour-kong strike starting at 6:00 am on May 30.Bank union leader Ashok Gupta told TheIndianSubcontinent that talks between the group of bank unions and the banks' association failed on Monday.
He said the IBA refused to discuss their demands.
The official further said that bank unions are not ready to accept a wage hike below 14-15 per cent.
The wage revision has been due since November 1, 2017.
In the last wage revision in 2012, employees had received a wage rise of 15 per cent, news agency Press Trust of India cited West Bengal convenor of UFBU Siddhartha Khan as saying.State Bank of India (SBI) had said in a regulatory filing on May 21 informed the Bombay Stock Exchange about the bank strike.
"we have been advised by the Indian Banks' Association that UFBU has served a notice of strike, informing their decision to go on nationwide bank strike" on May 30 and May 31, it had said."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," according to SBI, the country's largest bank.United Forum of Bank Unions (UFBU) is an umbrella body of bank unions including All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers Association (AIBOA) and Bank Employees Federation of India (BEFI).