Banking operations across the country could be hit as over 10 lakh bank employees of state-run banks are set to go on a national wide two-day strike starting Wednesday, May 30.
Amid a list of demands, the bank employees are mainly protesting against the inadequate two percent salary hike proposed by the IBA or Indian Banks’ Association. Several rounds of talks between banks and the unions of their employees have failed to make any headway so far.
Since the strike is called on the last working days of May, which is the salary date for most employees, massive offline money transactions are expected.
The employee unions of state-owned and private banks across India will stay off from work which might result in a cash crunch.
The strike has been called by United Forum of Bank Union (UFBU) – an umbrella body of nine unions, including All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW).
Not all the bank employees will be part of the strike. Functions in ICICI Bank, HDFC, Axis Bank, YES Bank and IndusInd will not be affected by the strike since they have no trade unions.