Bank Strike on August 22, Services to be Hit

Bank strike on August 22 All you need to know

Bank strike on August 22 All you need to know

Services are likely to be hit as about 10 lakh bankers in 1,32,000 branches will be on strike on Tuesday.

Led by Arun Kumar Gupta, General Secretary, JPBEF, the Federation members assembled at Shalamar Chowk and raised slogans in support of their demands.

He said that the Bank Board Bureau had been formed to bring all the public sector banks (PSBs) under a banking investment company and get the government's share in PSBs below 50 per cent. But government so far has desisted from such methods, he added.

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The United Forum of Bank Unions (UFBU) is an umbrella body of nine unions, including the All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and the National Organisation of Bank Workers (NOBW). One of the key issues for the strike, the union claims, is the consolidation and privatisation of public-sector banks (PSB) proposed by the Centre as part of banking-sector reforms.

All attempts to hammer out solutions to the demands raised by the unions bore no fruit and hence, UFBU chose to proceed with the proposed strike on August 22, said Mr Franco of the UFBU.

"No work will take place across public sector banks as they will remain locked", M S Jaishankar, president All India SBI Officers' Co-ord Committee, told Business Today. On August 16th, during the meeting, the IBA could not commit to resolving any of the demands of UFBU.

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The demand of UFBU includes, it aims to stop the merger of banks and their privatization. "As no such assurance came at the conciliation meeting, we have chose to go ahead with the August 22 strike".

The AIBOC General Secretary D T Franco said, "As the conciliation talk before the chief labour commissioner was failed, the unions are left with no other option but to go on strike".

All attempts to hammer out solutions to the demands raised by the unions bore no fruit and hence, UFBU made a decision to proceed with the proposed strike on August 22, he said.

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UBFU has also called upon the government to reimburse the banks against costs incurred by them in implementing the demonetisation policy from November 8 past year.

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