State Owned Bank to Go On Nationwide Strike from May 30 for 2 Days

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State-Bank-of-India

Nationwide State Banks will go on strike for two days starting from May 30, 2018 form 6 am onwards. Confirming the news C H Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA) said that “People will start withdrawing money, creating a panic situation and many ATMs could go dry,” he has requested citizens not to create any panic.

The country has around 2.30 lakhs ATM, in case of such news people start withdrawing a large amount of cash spreading the panic state. Banking operations will also have some impact in next 48 hours.

The strike of around one million employees will end on Friday, June 1, 2018, at 6 AM.

State Owned Bank to Go On Nationwide Strike- Why?

The reason behind this strike is due to the IBA’s delay in solving a grant of demands which includes wage revision of bank employees and issue of 2 percent hike in the wage amendment.

Seeing the current wage amendments UFBU has demanded efficient and quick wage reconsideration. They have asked for satisfactory salary increment and betterment in other facilities. All these demands were expected to include all officers up to scale VII.

Till now only 10 wage revision settlements have been executed that too in 5 years interval and four-year interval which started in 1966. The next revision was supposed to take place on November 17, 2018, and it is still due.

Commenting on the situation Venkatachalam says that “As per a government decision, wage revision takes place on a composite basis for all the seven grades. This time around the government is willing to talk about wage revision settlement for Grade 1-3 and is unwilling to discuss Grade 4-7, which it says will be discussed later. The government is not revealing what are its plans on the issue. If they give more or less in terms of a salary hike to either the junior or senior grade officers, there will be trouble. But the government was not willing to commit to anything in our talks yesterday,”

Viewing the strike situation the Chief Labour Commissioner JK Sagar, and Additional Commissioner (CLC) Rajan Verma, called for a meeting with IBA and the other bank unions.

They explained that “we are ready to negotiate and are not saying that our demands should be met in totality. But to say that there will be only a two percent increase is insulting,”

Who will Stay Unaffected?

Talking about the bank who will stay unaffected Venkatachalam quoted that “Those who bank with ICICI Bank, HDFC Bank, Axis Bank, YES Bank and IndusInd Bank will not be impacted by the strike. These five banks have no trade unions and hence won’t participate in the two-day strike called by around nine bank unions. Foreign bank employees will also participate in the nation-wide strike as they are members of these unions, but not their bank officer”

We request our readers not to create any panic situation and stay calm. The strike will end in 2 days there is no need to form long queues in front of ATM.

Go digital and stay from the impact of Bank Strike. We will keep you posted about all the latest happenings regarding strike news, meanwhile, you can ask you queried in the comment section below.

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