Banks services could be hit for two days as all the employee unions go for strike from tomorrow

Ahead of the union budget to be presented in the parliament on Saturday, February 1, the Banking services across India, PSU banks, in particular, will be remained close as part of the strike call given by the several bank employee unions. The strike was called on by employees in protest to the management's lousy over the pay hike.

Despite the officials of the labour department and finance ministry had tried to convince the employees to restrain from the strike, the unions are firm on their strike stating that the matter could not be resolved amicably between Indian Banks' Association (IBA) and representatives of the United Forum of Bank Unions due to differences.

The banks have already warned the customers that the strike would continue for two days from tomorrow halting all the operations. However, India's largest bank, the State Bank of India (SBI) said that work in its offices and branches may be impacted to some extent by the strike.

The Bank unions are reportedly demanded a 20% pay hike on pay and the management is not willing to go beyond 12.25%. The bank unions are also demanding 5-day work week, the merger of special allowance with basic pay, scrapping of the new pension scheme, etc.

As many as nine unions have got together under one roof named United Forum of Bank Unions (UFBU) to sit on the two-day strike. They also released a striking calendar, which includes a 3-day bank strike from March 11 and another indefinite all-India bank strike from April 1 if the government has not settled their wages.