Bank employees stage nationwide strike demanding revision in wage

Bank employees stage nationwide strike demanding revision in wage

Mangalore Today News Network

Mangalore, Dec 18, 2013: United Forum of Bank Unions (UFBU) staged a one-day nationwide strike in front of Canara Bank at Balmatta on Dec 18, Wednesday to protest against the slow progress made on employee wage revision and the recent banking reforms introduced by the RBI.

The protestors said that approximately 10 lakh bank employees, officers of public sector banks, private banks and foreign banks across the country observed the strike.

 

 

 

They also demanded a wage revision in the light of overshooting inflation and their increasing workload.
In the press release they also stated that even after several rounds of discussion, there is no breakthrough in negotiations.

They also stated that the Indian Banks’ Association (IBA) had agreed for 17.5% increase in the wage bill. The government in the seventh pay commission, the bank was let down by the government and the IBA. 

The IBA had also met UFBU leadership at Mumbai on December 14, where they had offered a paltry increase of 5% in pay which was rejected by UFBU.

The attitudes of the Indian Banks Association (IBA), government of India and Reserve Bank of India are clearly against the interest of bank workforce, interest of the nation and above all interest of depositors, who have invested hard earned savings in the public sector banks. In spite of the standing committee on finance opposing the proposal of granting new licences to corporates, RBI is bent upon going ahead with the exercise.  PSBs have stood the test of time under the regulatory regime and they are the nation buildings instruments. These institutions are to be protected, preserved and also promoted.