Large public sector banks like the State Bank of India (SBI), Punjab National Bank, Bank of India had reported huge losses in the fourth quarter of the fiscal year 2018 owing to mounting bad loans.
Besides, UFBU adamantly maintained that the negotiations on officers demands would be restricted up to Scale III only, AIBEA General Secretary CH Vekatachalam told PTI. In the last round in 2012, the employees got a 15% bump, and in the round prior to that, the hike was 17.5%. "In addition, bank employees and officers are compelled to undertake so much of non-banking business and all the burden of doing various government schemes have fallen on the shoulders of the bank staff", the strike notice issued by UFBU, an umbrella body which represents nine unions, said. Several banks, including State Bank of India, Bank of Baroda and Canara Bank, have previously cautioned that their services would be impacted by the strike. The wage revision for all banks is due since November 1, 2017.
Bhubaneswar: Services in public sector banks across the State were today affected after employees took to streets as part of the two-day nationwide strike called by the United Forum of Bank Unions.
On May 5, the IBA refused to revise wages for all officers, citing poor financial conditions at banks. The IBA did not do anything.
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He said at the conciliation meeting held on Monday, the chief labour commissioner (CLC) had asked the IBA not to raise new controversies like delinking the wage talks for officers in the 4-7 scale. "Hence strike on May 30 and 31 (Wednesday and Thursday) stands", All India Bank Officers' Confederation (AIBOC) general secretary D T Franco had said earlier. IBA has now made a decision to restrict wage negotiations to scale-III officers or up till the senior manager-level.
Bank employees said the proposed hike was too meager considering the rise in their workloads and cost of living.
"Generally we know the cash dispensation per day per ATM".
If you have any important transactions planned over the course of the next two days, we suggest you find an alternate.