The employees of nationalized banks are going on a four-day strike from January 21 to January 24, 2015 asking for an early and reasonable wage settlement. The United Forum of Bank Unions (UFBU) has also threatened an indefinite strike from March 16, 2015. The aftermath of this strike expected to cause financial loss to country’s economy to the tune of thousands of crores of rupees.
Besides, the public is also set to face inconvenience on account of the strike, followed by the weekend and a holiday on account of the Republic Day on 26th January. Most of the ATMs would run out of cash due to the six successive non-banking days.
The UFBU, an umbrella organisation of bank unions include AIBEA, National Confederation of Bank Employees, Bank Employees Federation of India, Indian National Bank Employees Federation, Indian National Bank Officers Congress, and National Organisation of Bank Workers, All India Bank Officers Association, and National Organisation of Bank Officers.
The UFBU is going on the strike according to its statement due to indifferent and recalcitrant attitude of the IBA of forcing to accept its offer of 11% increase in pay slip components regardless of the flexibility shown by UFBU to cut down its demand and coming to the table for further negotiation for a quick and early resolution to the settlement.