For long, banks' managements resisted officers' attempts to unionise
The All India Bank Employees Association and Bank Employees Federation of India has informed the Indian Banks' Association of the two-day nationwide strike
PSBs need to get over the vexed issue of wage negotiation, and collectively work to promote an institutional environment
In the afternoon, over 5,000 bank staffers staged a rally at Mumbai's Azad Maidan and raised slogans opposing the proposed merger
With branches closed, cash transactions are also set to take a hit
According to AIBEA General Secretary C H Vekatachalam, the strike is effective across the country and employees are fighting for a right cause
The nation-wide strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts
Private sector banks will continue to function as usual
The strike call comes on the heels of an officers union of state-run banks observing a day-long strike last Friday
Given that the public sector banks alone control 75 per cent of the total business in the country, the public is sure to face some inconvenience
The unions have opposed the Indian Banks' Association's offer of a 2% pay hike
The United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, called for a two-day strike that started on Wednesday
The employees went on strike starting on Wednesday against the 2 per cent wage hike offered by the IBA
Banking operations across the public sector banks have come to a halt as a result of two-day strike on May 30-31 organised by the employees against a wage increment offered by IBA.
85,000 branches shut operations on Wednesday; 3.9 million instruments remain unprocessed
Employees and officers of various public sector banks across the country are on a two-day strike starting today to protest a nominal 2 percent wage hike offered by the Indian Banks' Association (IBA).
About 1 million bank officers are expected to participate in the strike on May 30 and May 31
Services like deposits and withdrawal at bank branches are affected
Branches of private banks like ICICI Bank, HDFC Bank and Axis Bank were functioning
Operations at pvt banks like ICICI Bank, HDFC Bank, Axis and Kotak Mahindra are going to be normal