Banks went on a day-long strike today demanding wage revision. Nine bank employees unions had called the strike. These unions represent over eight lakh bank employees and officers of 26 Public Sector Banks, 12 Private Banks and 6 Foriegn Banks. The United Forum of Bank Unions (UFBU), an umbrella organization of 9 bank employees and officers unions AIBEA, NOBW, NCBE, INBEF, BEFE, AIBOC, AIBOA, NOBO and INBOC were on strike. More than 70000 branches and offices of all Public Sector, Private Sector Banks were affected. The UFBU has also decided to go on Zone wise strike from 2nd December to 5th December, 2014.
The wage revision of bank employees is pending since last two years. The employees have demanded 23 per cent wage hike where the Indian Banks Association (IBA) representing banks managements have offered a meager 11 per cent hike.
The formal negotiations have started in February 2013 and around 14 rounds of discussions have so far taken place between IBA and the UFBU on the issue. The UFBU has lowered its demand from 25 per cent to 23 per cent during the negotiations how the IBA remains adamant on 11 per cent offer quoting the reason of non-affordability due to NPAs.
Talking to NEWS MSME National Organization of Bank Workers Vice President Shri Ashwani Rana said: IBA is adamant while the banking Unions have shown enough flexibility by lowering its demand to 23 per cent level. It is unfortunate. In spite of their wholehearted support in implementation of the Government schemes announced from time to time even at high discomfort levels, the bank employees are not being comparatively paid adequately”, added Shri Rana.