Bank employees to go on nationwide strike on June 12

Employees of state-owned banks have threatened to go on a one-day nationwide strike on June 12, to press their demands including another option for pension scheme for bank staff.

"We have decided to go on strike on June 12," United Forum of Bank Unions Convenor C H Venkatachalam told PTI here.

UFBU is an umbrella body of nine employee unions in the country and claims to have large membership in public, private and foreign banks.

In 1990s, the bank employees were given an option to have Provident Fund (PF) or pension. Those who had opted for PFs are demanding another chance to choose pension.

Apart from pension issue, other demands of UFBU include compassionate appointment with a retrospective effect from 2004, termination of staff outsourcing and wage revision.

Though Indian Banks' Association and UFBU had signed an Memorandum of Understanding last year to sort out the contentious issues, the bank managements have not taken the required steps to resolve the issues, Venkatachalam said.

Two actuaries appointed by IBA and UFBU had pegged the cost to implement another pension scheme at Rs 17,000 crore, out of which Rs 6,000 crore need to be generated, Venkatachalam said.

To avert the nationwide strike, IBA officials will meet UFBU representatives in Delhi on June 5 in the presence of Chief Labour Commissioner.