Press Trust of India / New Delhi Aug 07, 2009, 19:45 IST
A two-day strike by public sector bank employees demanding higher salaries ended today after nearly crippling business and retail transactions, but bankers were still unhappy with a 17.5 per cent wage hike offered by the management.
During a conciliatory meeting the union leaders had with the Indian Banks' Association in the presence of the Chief Labour Commissioner, it was decided that they would soon hold bilateral talks on wage hike.
The IBA had earlier agreed to give an average 17.5 per cent hike to banking employees, but later pruned it to 13 per cent. At today's meeting, they were offered the original 17.5 per cent hike, but United Forum of Bank Union's convener C H Venkatachalam said this is not acceptable as of now.
The strike that began yesterday nearly brought to a halt all bulk cash withdrawals, money market transactions, forex operations and letter of credit and cheque clearances, besides hitting retail transactions, including ATM operations and loan sanctions.
Although large private banks and foreign banks operated as usual, the relief was much too little for comfort as the 26 state-run banks account for over 70 per cent of all banking operations.
Reports from various parts of the country including Mumbai, Kolkata and Chennai said there was a scurry for cash withdrawals from ATMs that had started running dry since yesterday.
I fail to understand why Govt and IBA is against legitimate demand for hike in salary.Banks performance is judged by profitablity and contributing to EXCHAKER.Moreover they are generating income and paying out of the profit earned.If Govt can increase his own employees salary without considering their performance and accoutablity,the attitude of GOVT is totaly negative and agaist growth of the economy.
Posted by: NMoorthyT
August 09 , 2009, 22:36 IST
The IBA is not keen on resolving the issue. The IBA itself is the main reason for the two day strike in the banking industry by going back from their on promises. If the Government was keen on solving the problem they could have sorted it out before the strike day. But all allowed the strike to happen without having any concern where the common man suffered. Bank employees lost two days salary and the IBA officials are pooling the amount for the hike in salray for the bank employees by this way!!!
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