Bank strike likely on Feb 28, may dent services

Bank strike likely on Feb 28, may dent services :- Operations at public sector banks may be hit on Tuesday as many unions under the aegis of UFBU have threatened to go on strike to press for demands including accountability of top executives in view of mounting bad loans in the banking sector.

SBI, PNB and BoB banks have warned their customers that functioning of offices and branches will be impacted if the strike takes off.


The UFB Union is an umbrella body of 9 unions but two of the Bharatiya Mazdoor Sangh affiliates National Organisation of Bank Workers, the functioning of private lenders like ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank is confirmed to be normal except the delay in cheque clearances.

UFBU decided to strike on February 28.

The conciliation meeting before the chief labour on 21 February commissioner failed to break the logjam as the bank management represented by the Indian Banks Association who did not agree to demands and put conditions, All India Bank Employees’ General Secretary C H told PTI.

Unions are opposed to the proposed labour reforms of the government and permanent jobs in the banking sector, some of the demands include compensation of employees and officers for extra hours of work put in the demonetization in November.

Moreover, they have pitched for criminal action against defaulters.

UFBU who claims membership of 10 lakh across banks requested the government for cost reimbursement of demonetization to banks.Nearly 27 public sector banks control 75 percent of the total business.