CSB Bank staff to strike against non-revision of wages

BL Mumbai Bureau | | Updated on: Dec 25, 2021

Management currently experimenting with new business operating models, says association

CSB Bank employees and officers are planning to go on a strike for three days — December 30,31, and January 1 — to protest against non-revision of wages and service conditions.

Some of the employees and officers on Saturday went on a hunger strike in front of the bank’s headquarters in Thrissur.

“Employees and Officers of CSB Bank have been on agitation during the entire current year, seeking preservation of the mass banking character of the century-old bank, implementation of the long-due and settled wage-revision effective from November 2017 … So far, seven days of strike have taken place,” KS Krishna, President, All Kerala Bank Employees’ Federation, said in a statement.

He observed that the bank’s management is currently experimenting with new business operating models with enhancement of shareholders’ value and earnings as the sole motive and goal.

Referring to the bank recording an operating profit of ₹613 crore and net profit of ₹218 crore in FY21, Krishna said even one year after the signing of the banking-industry level 11th Bipartite Settlement and 8th Joint Note on November 11, 2020, between the Indian Banks’ Association and the Bank Unions, the same has not been implemented in CSB Bank.

The revision of wages and benefits under the settlement is due from November 1, 2017, he added.

The unions have urged upon CSB Bank’s management to immediately settle their demands and issues.

Published on December 25, 2021
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