Banking services likely to be hitfor two days, 22nd and 23rd Aug

BL : 21 Aug 2012

Banking services across the country might get affected for two days, starting tomorrow if the strike called by the United Forum of Bank Unions (UFBU) materialises.

Indian Bank has informed the BSE that UBFU has called for a country-wide strike on August 22 and 23 in support of their demands.

“If the strike materialises, a section of the bank's employees may take part in the proposed strike on the said dates, in which case, the normal functioning of the branches / offices of the bank may get affected,” the filing with BSE noted.

This might be true for other banks too. UFBU represents nearly 10 lakh bank employees and officers working the public sector banks, private sector banks, foreign banks, regional rural banks and co-operative banks.

The union is principally opposed to the Government’s proposal of increasing the voting rights from 1 per cent to 10 per cent for public sector banks and from 10 per cent to 26 per cent for private sector banks, a top official of a public sector bank representing the officer’s association said.

The Lok Sabha will take up amendments in the Banking Regulation Act for consideration and passage on Wednesday.

Besides, the union is also against unfriendly work hours and certain recommendations of the Khandelwal Committee which bypasses the employee unions with respect to HR matters. The union has also demanded a five-day working week as is followed in other services industries including insurance, stock markets, foreign exchange markets, among others.