Bank Strike in India on 6th and 7th August

Bank Strike in India on 6th and 7th August has been confirmed by employee unions of the public sector banks across India. The two-day nationwide bank strike from August 6 is to press for wage hikes and other issues.

The meeting between employee unions and the Indian Banks’ Association (IBA) in the presence of the Chief Labour Commissioner has failed to yield any result. The United Forum of Bank Unions (UFBU) Convener C H Venkatachalam confirmed about the strike. The UFBU is an umbrella body of nine bank employee unions of the country and claims to have members from public, private and foreign banks.

One million employees, including officers, will participate in the strike, affecting services in about 60,000 bank branches in the country.

IBA has further reduced the rate of wage hike from the proposed 17.5 per cent to 13 per cent. IBA further did not concede demands on pension and appointing dependants of deceased employees on compassionate grounds.

So draw any cash if you want today as 5th anyway is holiday due to Rakhi.

Do you think the bank strikes are the only way for wage hikes? Write your opinions and comments below.