expr:href='data:blog.homepageUrl + "favicon.ico"' rel='icon' type='image/x-icon'/> BANK STRIKE AGAINST PRIME MINISTER NARENDRA MODI IS RIGHT OR AGAINST?

BANK STRIKE AGAINST PRIME MINISTER NARENDRA MODI IS RIGHT OR AGAINST?

  • Bank employees' unions have decided to join the all-India strike call given by central trade unions
  • Banking services at branches and ATMs are likely to be affected if the bank strike materializes
  • NEW DELHI: To protest against the economic policies of the Narendra Modi government, bank unions have decided to join the all-India general strike called by central trade unions next week. Bank unions like the All India Bank Employees’ Association (AIBEA) and Bank Employees Federation of India (BEFI) have asked members to not join work on January 8.

  • Normal banking services at branches and ATMs are likely to get affected on Wednesday, as a result of the bank strike. Netbanking services like NEFT, IMPS and RTGS transfers will, however, not be affected. Online NEFT transfer charges have been waived off by the RBI and the transfer process has now been made 24x7.

  • All India Bank Officers' Confederation (AIBOC) general secretary Soumya Datta has asked members to not demand nor accept any keys and not perform any clerical duties on the day of the strike.
  • Besides demanding a salary hike, the bank employees' unions are also protesting against banking reforms and bank mergers.

  • "Our legitimate demand for wage revision for bank employees and officers is being unduly delayed. Employees recruited after April 2010 are deprived of

  • defined pension benefit. Our genuine demands like 5 Day Banking, etc. are being ignored by the Government. Employees and officers are suffering from the heavy workload and adequate recruitment is not being made in banks," a strike notice signed by different bank unions read.

  • The bank strike call is also supported by the All India Bank Officers Association (AIBOA), Indian National Bank Employees Federation (INBEF) and Indian National Bank Officers Congress (INBOC).

  • Operations across bank branches and ATMs are expected to take a hit on January 8 as major bank employee unions have called for a nationwide strike against the labor policies of the government. In light of the upcoming work stoppage, banks have assured that necessary steps will be taken to ensure smooth banking operations.

  • Syndicate Bank has said it is taking requisite measures for the smooth functioning of its branches on the day of the strike. "Bank has received notice served by... on the proposed strike on January 8, 2020," the public-sector lender said in a regulatory filing on Saturday. "The bank is taking necessary steps for the smooth functioning of the bank's branches/offices on the day of the proposed strike. However, in the event, the strike materializes the functioning of the branches/offices may be impacted by the strike."

  • Meanwhile, State Bank of India, the biggest lender in India, has said that its operations will not be affected as much by the strike. "The membership of our bank employees in unions participating in the strike is very few, so the impact of a strike on bank's operation will be minimal," SBI had told the stock exchanges in a filing on Friday.

  • Banks have been informed by Indian Banks' Association (IBA) that bank unions including All India Bank Employees Association (AIBEA), All India Bank Officers' Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees' Federation (INBEF), Indian National Bank Officers Congress (INBOC) and Bank Karmachari Sena Mahasangh (BKSM) will go on a pan-India general strike on January 8. Ten central trade unions have expressed support towards the strike.
  • NEWS SOURCES LIVEMINT  BUSINESSTODAY.IN
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