Wednesday , March 20 2019

Banking Services to be Hit by UFBU Strike on Feb 28

Banking Services of major PSB’s like SBI, PNB, and BOB might get halted on Tuesday, Feb 28, due to a strike on called by UFBU




The functioning of Public sector banks might be hit on Feb 28, Tuesday because nearly all unions under the aegis of UFBU (United Forum of Bank Unions ) have decided to go on strike for fulfilling various demands. The demands include responsibility of top executives in view of escalating bad loans in the banking sector.

Many Public Sector banks like SBI, PNB and BOB, have decided to inform their customers regarding the possibility of an halt in operations of various bank branches due to the strike. Other private banks like ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank will function but is expected to make delay in cheque clearances. The UFBU is a collaboration of 9 unions, but two of the Bharatiya Mazdoor Sangh affiliates — National Organisation of Bank Workers and National Organisation of Bank Officers – are not part of it. The conciliation gathering before the chief labour commissioner on February 21 failed to break the logjam as the bank management represented by the Indian Banks Association did not agree to demands and put conditions, All India Bank Employees’ Association (AIBEA) General Secretary C H Venkatachalam told PTI. All the efforts made by the unions  to find solutions to the demands went in vain and therefore,  UFBU decided to continue with the proposed strike on February 28. These Union, who claims membership of nearly 10 lakh across banks,  also were against the proposed labour reforms of the government and outsourcing of permanent jobs in the banking sector. The major demand of the Union comprises the compensation of employees and officers for their over time work put in following demonetisation in November. And the early initiation of process of next wage revision of bank employees is the next demand. Further they have demanded for massive recruitment process in all cadres, stringent actions to recover bad loans and accountability of top executives. Moreover, they have also asked for filing criminal actions against willful defaulters. UFBU has appealed the Government for cost repayment of demonetisation to banks.


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