PSU bank strike today

Normal banking operations may take a hit tomorrow as public sector bank employees will go on strike to protest against proposed merger of associate banks with SBI and banking reforms announced by the government.

Normal banking operations may take a hit tomorrow as public sector bank employees will go on strike to protest against proposed merger of associate banks with SBI and banking reforms announced by the government.

The United Forum of Banks Unions (UFBU), an umbrella organisation of nine bank employees and officers unions representing 8 lakh staffers, will go ahead with the strike, potentially affecting services like cheque clearances, cash deposit and withdrawal at branches and other facilities.

Most banks, including SBI, informed customers that banking services would be hit on July 29 due to the strike at all banks on "issue and demand to stop banking sector reforms".

"The All India State Bank Officers' Federation and the All India State Bank of India Staff Federation are members of UFBU. Thus, it is likely that the bank will also be impacted to some extent by the said strike calls," SBI said in a statement.

According to All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam, the conciliation meeting with the Chief Labour Commissioner on July 26 did not yield any positive results though UFBU is willing to reconsider the strike call if the government considers their demand and addresses it.

"The unions were ready for meaningful discussion, but the government only tried to justify their present policy decision on banking reforms and hence, there was no meeting point," he explained, trying to justify the proposed action.

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