Declaration of bank employees union

Banks to go on nationwide strike on 24 and 25 March, talks with IBA fail

The United Forum of Bank Unions (UFBU) on Thursday announced that their two-day nationwide strike on March 24 and 25 will go on as scheduled. The decision was taken after talks with the Indian Banks' Association (IBA) failed to yield any positive results. UFBU members had met the IBA to discuss various issues, including demands like recruitment across all cadres and a five-day working week. For more business news, visit Vaartha's Business Section.

NCBE General Secretary gave information

L Chandrasekhar, general secretary of the National Confederation of Bank Employees (NCBE), said no solution has been reached on these key issues. The UFBU, an umbrella body of nine bank employees unions, had already called for a strike over these demands, including filling up of staff and officer director posts in public sector banks.

The union put forward this demand

Apart from this, the union has also demanded the withdrawal of the recent instructions of the Department of Financial Services (DFS). They say that these instructions pose a threat to the job security of the employees. Also, it will have an adverse effect on the employees. UFBU has also opposed the "micro-management" of public sector banks by DFS, and said that this is weakening the autonomy of the bank board.

Other demands include resolving the remaining issues with the IBA, amending the Gratuity Act, and increasing the limit to Rs 25 lakh. Apart from this, exemption from income tax has also been demanded.

UFBU comprises major bank unions like All India Bank Employees Association (AIBEA), All India Bank Officers Confederation (AIBOC), National Confederation of Bank Employees (NCBE), and All India Bank Officers Association (AIBOA). For more updates on the strike, visit Vaartha's ePaper.