Bank operations come to a standstill, as employees go on a two day strike

Posted By: Staff
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New Delhi, Aug 6 (ANI): Employees of public sector banks across the country went on a two day strike from today to press for their demands, as per the recommendations of the sixth pay commission.

Bank employees unions decided to observe nation wide strike after talks with the government and the Indian Bank's Association (IBA) collapsed on Wednesday.

The bank employees are demanding a 20 percent raise in salary, resumption of talks and expeditious settlement of all their demands.

Earlier, the IBA had offered a 17.5 percent increase in the wage bill, but later reduced it to 15 percent.

The operations of about 60,000 banks have been affected by the strike.

United Forum of Bank Unions (UFBU) Convenor C. H. Venkatachalam blamed the rigid IBA for the strike.

Bank staff will not work on Thursday and Friday. Bank activities are likely to be affected till Monday due to the weekend. As Wednesday was also a bank holiday due to Raksha Bandhan, any deposits made on Tuesday are expected to get cleared only on Monday.

Co-operative and private sector banks will function normally as they are not a part of the UFBU. (ANI)

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