Money & Banking

ING Vysya Bank staff to strike work today

Our Bureau Bangalore | Updated on March 16, 2011

About 4,000 employees, including officers, of ING Vysya Bank will strike work on Thursday in protest against outsourcing of work to contractors, among other issues.

“There has been no recruitment in the bank for about 10 years, and most of the work is being outsourced to contract labourers. By doing this, the bank is not honouring the settlement that we had entered into with the management earlier,” Mr Ramakrishna Reddy, General-Secretary, All India ING Vysya Bank Employees Union, told Business Line.

To mark its protest, about 4,000 employees, including officers, will observe a one-day strike; the bank has a staff strength of over 7,000, including contractors.

Pay parity sought

The union is also demanding that pay structures at the bank be on a par with the Indian Banks' Association (IBA) scales. “In fact, some top executives are even earning Rs 3-4 crore per annum, which is higher than IBA scales,” claimed a union member.

Though the impact cannot be total, “we expect it to be serious in branches where there are more permanent employees,” said Mr Reddy. However, a bank official said that the management was taking all efforts to ensure that all the branches function.

The bank management had held discussions with the union recently, but the talks failed.

Published on March 16, 2011

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