2-Day Nationwide Bank Strike


Kolkata: Over 10 lakh bankers in the government and private sectors are gearing up for a two-day strike starting on May 30, as the Indian Banks’ Association (IBA) did not make any improved offer over the two per cent wage hike made earlier, an All India Bank Employees Association (AIBEA) leader said.

The strike is spearheaded by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions. The bankers would strike work demanding early revision of the wages. The wage revision has been due since November 1, 2017.

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Several banks, including SBI, Bank of Baroda and Canara Bank, have cautioned that their services and normal banking operations would be impacted by the strike. Those whose accounts are with ICICI, HDFC, Axis, YES Bank and IndusInd will not be impacted by the strike as they have no trade unions and hence won’t participate in the two-day strike. In the last wage settlement, for the period November 2012 to October 2017, IBA had given a wage hike of 15 per cent.

As per the minutes of the meeting on Monday, IBA officials reasoned that the hike in wages had to be limited to 2 per cent as banks were grappling with a rise in non-performing assets. A recent report mentioned that banks’ NPAs have shot up 46.70 per cent to Rs 8,40,868 crore as of March 2018. Six PSU banks made a loss of Rs 6,626 crore in the March quarter.