Bank Union

Bank unions on Friday deferred their two-day nationwide strike beginning Monday after they received positive assurance from both the finance ministry and the IBA on their demands, including a five-day work week and adequate recruitment in all cadres. The strike call for March 24 and 25 was given by United Forum of Bank Unions (UFBU), an umbrella organisation of nine bank employees' association. The decision to defer strike was taken before the Chief Labour Commissioner who had called all parties for a conciliation meeting here. Representatives of Indian Banks' Association (IBA) and the finance ministry assured to deliberate on demands raised by unions. The UFBU had also demanded immediate withdrawal of the recent directives of the Department of Financial Services (DFS) on performance review and performance-linked incentives (PLI), which threaten job security and create division amongst employees. "IBA proposed to further discuss issues like recruitment and PLI and other issues. Th

Demands include fresh recruitment at all levels and a five-day work week, says umbrella group of unions

Bank officers' union AIBOC on Thursday threatened to go on a nationwide strike on February 24-25 to press for their various demands, including a 5-day work week and adequate recruitment in all cadres. Besides, the union has demanded immediate withdrawal of the recent directives of the Department of Financial Services (DFS) on performance review and PLI, which threaten job security and create division amongst employees. It further pitched to fill the post of workmen/officer directors in public sector banks and resolution of pending residual issues with IBA. In a statement, All India Bank Officers' Confederation (AIBOC) said it has been proposed by the executive committee to go for a two-day nationwide strike, tentatively scheduled for February 24-25, 2025. If required, more stringent actions may follow. Agitation programmes will start soon after the notice of the strike is served this month. The union alleged that micro-management of PSBs on policy matters by the DFS undermining th

A 6-day nationwide strike has been planned by the All-India Bank Employees Association (AIBEA). Here are the bank holidays that the RBI has declared for December 2023

The decision to call for a strike was taken after a meeting in Mumbai on Thursday

The two-day nationwide bank strike called by United Forum of Bank Union ended on Friday, impacting normal operations across the country. Lakhs of employees of public sector banks were on strike to protest against the proposed privatisation of banks by the government. Banks will work as usual on Saturday, as it is a working day. United Forum of Bank Union (UFBU) is an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW). Services like deposits and withdrawal at branches, cheque clearance and loan approvals remained paralysed due to the two-day strike. ATMs at different parts of the country went dry on the second day. Government treasury operations, negotiating of import and export bills, grant of loans, cash transactions, etc. were not possible and clearing operations were affected. In the three clearing centres of Mumbai, Delhi and Chennai, about 3

In the last concluded session, Parliament passed a bill to allow privatisation of state-run general insurance companies

Says depositors lose their savings, wonders whether it is prudent to allow both the lender and the borrower to be owned by the same set of people

It further added that historically, the sovereign covered the loan interest waivers, but in the current situation, a shortfall in revenues both at the Centre and state level will not permit the same

The bank unions have called for a nationwide strike demanding to expedite the process of wage settlement due since November 2017

An industry wage pact is a bizarre performance appraisal as the benchmark for such a pact is the paying capacity of the weakest of banks

Cash deposit and withdrawal, and cheque clearances have been impacted due to the nationwide strike

Functioning of branches and offices will be hit if the strike goes ahead on Tuesday

Bank officials have allegedly been working 12-18 hrs a day since the govt's Nov 8 announcement