Bank staff to go on strike tomorrow

The United Forum of Bank Unions, an umbrella of nine unions, has called a nationwide strike tomorrow to oppose outsourcing, privatisation and the proposed increase in voting rights of foreign investors in private banks.

The strike was announced after the conciliation meeting held on October 18 by Chief Labour Commissioner with the unions and Indian Banks Association (IBA) did not yield any result.

The union blamed the casual approach of the government and IBA for the failure of the meeting in which UFBU had also demanded fresh recruitments, restoration of compassionate appointments and one more option to join the pension scheme.

The strike is likely to impact public sector banks like State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank.