Strike to hit Rs 70,000 cr banking transactions in Odisha

However, alternate channels of banking like mobile banking, internet banking were in operation

Banking transactions in the state was hit as public sector banks went on a two-day long strike starting from Monday pressing for immediate wage revision.

The United Forum of Bank Unions (UFBU), an umbrella organization of nine trade unions of employees and officers of PSU banks, has decided to go on strike after the conciliation meeting between the Indian Banks’ Association (IBA) and the UFBU, held on February 6 in the presence of Chief Labour Commissioner, remained inconclusive.

Sources said, the two-day strike would hit banking transactions to the tune of Rs 70,000 crore in the state. “We demand immediate revision of wage which is due from November, 2012”, said Jyoti Bhushan Mohapatra, State Convenor, UFBU.However alternate channels of banking like mobile banking, internet banking are in operation, he said, adding there may not be scarcity of funds at ATMs today.

After a nationwide strike on December 18, the IBA had offered 10 per cent revision in the wages, which was turned down by the bank unions.

“A higher rate of hike, if not forty per cent, is wanted as the inflation rates are surging day by day”, he added.In addition, the bank unions have opposed the banking sector reforms proposal, which, they felt, would encourage privatization of the public sector banks.“Apart from the wage issue the UFBU has been opposing the attack on various trade union rights, encouragement to privatization, merger/consolidation of banks, deregulation and rampant invitation to foreign capital etc, in the name of Banking Sector Reforms. The UFBU feels that most of the steps for reforms are unsuitable, inappropriate and incongruous to the country’s needs”, read an official release.The bank branches were forced to pull down shutters after picketing by the officials from the public sector banks, rued a private bank officer. As many as 40000 bank employees working across about 4000 branches in the state have resorted to the strike called by UFBU.

The nine unions include All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA), Bank Employees' Federation of India (BEFI), Indian National Bank Employees' Federation (INBEF), Indian National Bank Officers' Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation Of Bank Officers (NOBO).