Trade Unions strike closes banks for four days

By Newsmeter Network  Published on  13 Sep 2019 10:20 AM GMT
Trade Unions strike closes banks for four days

Hyderabad: Four major trade union organizations in India has proposed to go on a two-day continuous strike from midnight of September 25th to midnight of September 27th. In a letter written to Indian Banks’ Association on Thursday, the associations mentioned that they are opposing the mergers and amalgamations in the banking sector.

If the proposed two-day strike is declared, then banks will be closed for four days, i.e., banks will be closed on September 26th and 27th on strike days and September 28th and 29th are holidays due to the last Saturday and Sunday of the month respectively.

This came after the government announced the consolidation of 10 major public sector banks into four. All India Bank Officers’ Confederation (AIBOC), All India Bank Officers’ Association (AIBOA), Indian National Bank Officers’ Congress (INBOC) and National Organisation of Bank Officers (NOBO) are the four trade unions who combinedly issued a notice to the Indian Banks’ Association.

Furthermore, the trade unions threatened to continue the strike.

Employees from all banks in the country announced that they would go on a strike for two days from midnight on September 25th.

The trade unions demand, “expeditious wage revision as per the charter of demands, with an unconditional and clear mandate from all banks.”

To regulate the working hours, the unions, demand the immediate introduction of a five-day week in full and reduction of cash transaction hours. Further, they demanded to halt undue interference in the existing procedure of Vigilance cases, adequate recruitment Scrapping NPS, the reintroduction of Defined Pension Payment Scheme.

Reduction of service charges for customers and to stop harassing officers under specious plea of non-performance are included in their list of demands. As per the RBI formula, they seek to settle the issues related to updating the retiree’s pension without any ceiling, quantum and percentage.

The letter copy has been sent to the Chief Labour Commissioner (Central), New Delhi, CMDs/MDs/CEOs of all Banks, Chief Executive, IBA, Mumbai, the Secretary at Department of Financial Services and the Joint Secretary, DFS for RRBs.

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