Bank unions to go on strike on Dec 18

Bank unions have called a one-day strike on December 18 to protest against the decision of the Reserve Bank to accord national treatment to foreign banks.
"The United Forum of Bank Unions (UFBU) have given a call for all India industry strike on December 18, 2013," Canara Bank said in a filing to the BSE.
It further said the bank management has received a notice from Canara Bank staff federation expressing their support to the strike call given by UFBU.
Earlier, National Organisation of Bank Workers General Secretary Ashwini Rana had said the bank unions are opposing RBI's decision to give near national treatment to foreign banks if they set up a wholly-owned subsidiary (WOS) in the country.

Last month RBI had issued guidelines permitting WOS of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.
It also allowed foreign bank subsidiaries to list on local stock exchanges.

The unions, he said, also want expeditious implementation of the wage revision of bank employees which is due from November 2012.
Improvement in pension scheme and other retirement benefits is another demand of unions.
The National Organisation of Bank Workers is one of the constituents of the United Forum of Bank Unions, which is an umbrella body of bank employees union.