Money & Banking

Strike hits banking operations

K.R. Srivats New Delhi | Updated on December 26, 2018

AIBEA General Secretary C. H. Vekatachalam (file pic)

The United Forum of Bank Unions (UFBU), on Wednesday, said its one-day all-India bank strike on Wednesday was a “total success”.

As many as one lakh branches and offices of 21 public sector banks (PSBs) were closed.

About 10 lakh bank employees and officers from these bank branches joined the strike.

Although UFBU claimed total success, the strike did not affect new-generation private banks, where employees were in attendance, industry sources said.

The strike call was given to oppose the merger of Bank of Baroda, Vijaya Bank and Dena Bank, and to demand an early and justified wage revision.

UFBU is the umbrella organisation representing nine bank unions in the country, including All-India Bank Officers’ Confederation (AIBOC), All India Bank Employees’ Association (AIBEA), National Confederation of Bank Employees (NCBE) and National Organisation of Bank Workers (NOBW).

Speaking to BusinessLine, CH Venkatachalam, General Secretary, AIBEA, said that the day-long strike was a total success.

The heartening part of the strike is that young employees and officers were excited to participate in the strike and they understood the adverse impact that mergers of banks would have on their livelihoods and career, he said.

As many as 32 lakh cheques, amounting to ₹23,000 crore did not get cleared on Wednesday on account of the strike.

Last Friday (December 21), an officers’ union of public sector banks observed a day-long strike to protest the merger, and also demanded immediate finalisation of wage negotiations.

Published on December 26, 2018

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