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NEW DELHI: Some of the essential services related to banking, transportation, railways and electricity are likely to be impacted during a two-day nationwide strike called by a joint forum of central trade unions beginning Monday. Talking to PTI, All Indian Trade Union Congress General Secretary <keyword id="366518" type="General" weightage="20" keywordseo="amarjeet-kaur" source="Orion">Amarjeet Kaur</keyword> said, "We are expecting participation of over 20 crore formal and informal workers with mass mobilisation of workers across the country during the strike on March 28 and 29 to protest against government policies." She said that the strike is expected to hit the rural parts also, where informal workers of farming and other sectors will join the protest. The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance. Unions in railways and defence sector will carry out mass mobilization in support of the strike at several places, the joint forum said. The unions' demands include scrapping of the proposed changes in labour laws, privatisation of any form and the national monetisation pipeline. Increased allocation of wages under MNREGA (<keyword id="1194612" type="General" weightage="20" keywordseo="mahatma-gandhi-rural-employment-guarantee-act" source="Orion">Mahatma Gandhi Rural Employment Guarantee Act</keyword>) and regularisation of contract workers are also part of their demands. Workers of roadways, transport and electricity departments have also decided to join the strike in spite of the impending threat of ESMA (Essential Services Maintenance Act) which is likely to be imposed in Haryana and Chandigarh, the joint forum said in a statement. Trade unions, including INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF and UTUC are part of the joint forum. Meanwhile, the <keyword id="6375040" type="General" weightage="20" keywordseo="power-ministry" source="Orion">power ministry</keyword> on Sunday advised all the state-run utilities and other agencies to be on high alert and ensure round-the-clock electricity supply and stability of the national grid. "The Centre of Indian Trade Unions (CITU) have called for a nationwide strike with effect from 06:00 hrs of March 28 to 06:00 hrs of March 30, 2022," an advisory issued by the power ministry said. The advisory has been issued to all states, central public sector undertakings, central electricity authority, national load dispatch centre and regional load dispatch centres. In the interest of the consumers of electricity, it is advised that all the power utilities shall take necessary measures to ensure round-the-clock functioning of the electricity grid and availability of all plants, transmission lines and substations, the ministry said, adding that all regional/state control room executives should be vigilant and on high alert. The ministry also suggested measures to be taken to ensure secure and reliable grid operations. Shutdown activities planned during March 28-29 may be rescheduled to suitable future dates to the extent possible, it said and asked all concerned officials to ensure close supervision of their regional network/control area. Also, manpower may be deployed at all critical sub-stations/power station 24X7 to handle any emergency situation, it said. Power supply to those engaged in essential services such as hospitals, defence, and railways must be ensured, it added and suggested setting up of a 24x7 control room for information dissemination and handling any kind of contingency. Bank employees' unions said they will support the strike. All <keyword id="3658" type="General" weightage="20" keywordseo="India" source="Orion">India</keyword> Bank Employees' Association (AIBEA) General Secretary C H Venkatachalam said the union demands the government to stop privatisation of public sector banks and strengthen them. Bank employees also demand speedy recovey of bad loans, higher deposit rates by banks, lower service charges on customers as well as restoration of old pension scheme for staff. A number of public sector banks, including country's largest lender SBI, have said that their services may get impacted to a limited extent due to the strike. SBI said it has made necessary arrangements to ensure normal functioning in its branches and offices during the strike. "It is likely that work at our bank may be impacted, to a limited extent, by the strike," SBI said. New Delhi-headquartered Punjab National Bank (<keyword id="13478968" type="COMPANY" weightage="20" keywordseo="pnb" source="Orion" meta.marketcap="38923.93999753" meta.tagname="Punjab National Bank" meta.tagpopularcount="0" meta.sectorid="15" meta.entitytype="company" meta.matchtype="exact" meta.aum="0" meta.entityid="11585" meta.tagseoname="punjab-national-bank" meta.sector="Banks" meta.tagnameorg="Punjab National Bank">PNB</keyword>) said, AIBEA, Bank Employees Federation of India (BEFI) and All India Bank Officers' Association (AIBOA) have served notices to go on strike on March 28-29. "While bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our bank may be impacted to a limited extent by the strike," PNB said. Bengaluru-based <keyword id="13478969" type="COMPANY" weightage="20" keywordseo="canara-bank" source="Orion" meta.marketcap="40836.07197252" meta.tagname="Canara Bank" meta.tagpopularcount="0" meta.sectorid="15" meta.entitytype="company" meta.matchtype="exact" meta.aum="0" meta.entityid="9218" meta.tagseoname="canara-bank" meta.sector="Banks" meta.tagnameorg="Canara Bank">Canara Bank</keyword> said it is taking all necessary steps to ensure smooth functioning of bank branches and offices. However, the functioning of the bank may be impacted, Canara Bank added. Private lender <keyword id="2179992" type="General" weightage="50" keywordseo="rbl-bank" source="Orion">RBL Bank</keyword> said its bank unions are affiliated to AIBOA and AIBEA, and the employees associated with these unions may participate in the strike. "The bank will take all necessary steps for smooth functioning of the bank's branches/offices on the days of strike. However, it is likely that some of our branches would also be impacted by the strike," <keyword id="13478967" type="COMPANY" weightage="20" keywordseo="rbl" source="Orion" meta.marketcap="491.27195140500004" meta.tagname="Rane Brake Lining Ltd" meta.tagpopularcount="0" meta.sectorid="506" meta.entitytype="company" meta.matchtype="exact" meta.aum="0" meta.entityid="21601" meta.tagseoname="rane-brake-lining-ltd" meta.sector="Auto Ancillaries" meta.tagnameorg="Rane Brake Lining Ltd.">RBL</keyword> said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/pvr-and-inox-leisure-announce-merger/articleshow/90476756.cms">PVR and INOX Leisure announce merger</a> <a href="https://www.businessinsider.in/business/startups/news/how-this-former-vedantu-cofounder-is-taking-on-instagram-and-snapchat-to-build-social-media-for-teens/articleshow/90443442.cms">How this former Vedantu cofounder is taking on Instagram and Snapchat to build social media for teens</a>

Two-day Bharat Bandh: Essential services likely to be affected

<ul><li>The three-day bank strike that would have left banks closed for six days in March has been called off by the unions.</li><li>The Indian Banks’ Association (IBA) has agreed to a 15% wage hike — the same increase that was agreed to during the last wage revision of 2012.</li><li>The wage revision for public sector bank employees has been pending since November 2017.</li><li>The IBA also agreed to take into consideration the provision for 5-day banking and getting more employees on board.</li><li>There was no discussion of reducing service charges for customers.</li></ul>The three-day bank strike would have left banks inaccessible for <a href="https://www.businessinsider.in/india/news/banks-will-be-shut-for-six-days-next-month-as-employees-protest-half-wages/articleshow/74112660.cms">six days</a> in India has been called off by the bank unions. It took three years and five strikes for the Indian Banks’ Association (<a href="https://aiboc.org/wp-content/uploads/2020/02/24_2020_aiboc_r_UFBU-circular-on-Talks-with-IBA_29022020.pdf">IBA</a>) to agree upon an increase that is at par with what was agreed upon during the last wage revision in 2012 — 15%. In order to defer the three-day strike — along with three scheduled holidays — the IBA will also consider the option of allowing 5-day banking and the encashment of 5-day privilege leave. During the last two two-day strike between January 31 and February 1, the IBA told UFBU these terms were off the table. Be that as it may, the unions were originally demanding a wage hike of 20%. 
 <div type="image" title="bankstrike" msid="74433467" hostid="261" caption="&amp;lt;p&amp;gt;Two-day bank strike between January 31 and February 1 earlier this year&amp;lt;/p&amp;gt;"></div>



 Wages revision pending for three years The main reason for these strikes is wage revision, which is supposed to take place every five years. However, the last settlement was due on 1 November 2017 but the wages of public sector bank employees haven’t changed since. Currently, the unions’ claim that the basic pay of public sector bank employees is half of what other central government employees earn. 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed flourish-chart" data-src="visualisation/1487095"></div>
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 The unions’ state there were "positive developments" in the talks held with the IBA. "In view of the developments that emerged from today's negotiation, UFBU decided to defer all programme of agitation including the call of strikes on the issue of wage revision," said United Forum Bank Unions (<a href="https://www.befi.in/admin/UPL/12-2020-2020-02-29.pdf">UFBU</a>). The IBA has also agreed to look into the issue of more recruitment and improving family pension. 
 <div type="image" title="bankstrike2" msid="74433488" hostid="261" caption="&amp;lt;p&amp;gt;Unions call for 5-day banking, less cash transaction hours and more recruitment&amp;lt;/p&amp;gt;"></div>



 "While the business has been growing, the staff strength has been dwindling," said the strike notice sent to the IBA arguing for more employees to be brought on board. The unions point out that a large segment of the workforce has either already retired or is on the verge of retirement. They also claim that increasing work pressure due to the lack of manpower has led to over 100 incidents of bank officers committing suicides. The argument for 5-day banking The unions’ argue that the 5-day work weeks are the norm around the globe for banks and even for companies operating within India. In the interest of digital banking, the introduction of a 5-day week would reduce cash transaction hours and lead to the augmentation of digital transactions. "Longer working hours have a negative impact on the level of performance, quality of decisions, the culture of the organisation and the industry, in addition to enslaving him to work, discarding familial and social obligations," said the notice of strike. 
 <div type="image" title="bankstrike5" msid="74433493" hostid="261" caption="&amp;lt;p&amp;gt;Long line of customers at ATMs during the last two-day bank strike between January 31 and February 1&amp;lt;/p&amp;gt;"></div>



 What do the banks want for their customers? One of the unions’ demands is that service charges for customers need to be lowered. The unions’ argue that reducing charges won’t just be for the benefit of the depositors but would also help banks improve their reputation in the eyes of the public. 
 <div type="image" title="bankstrike3" msid="74433506" hostid="261" caption="&amp;lt;p&amp;gt;Unions want to improve the reputation of banks in the eyes of the public&amp;lt;/p&amp;gt;"></div>



 No movement was made on this demand during the latest round of talks, and negotiations are likely to go on for longer. "IBA agreed to discuss all other issues through further discussions. In view of these positive developments, all our agitational programmes including the ensuing 3 days strike from 11th March, 2020 stands deferred," said the <a href="http://www.aiboa.org/news.htm">circular</a>. See also: <a href="https://www.businessinsider.in/business/news/bank-strike-deferred/articleshow/74418090.cms">Bank strike deferred</a> <a href="https://www.businessinsider.in/business/news/two-day-psu-bank-strike-impacts-services/articleshow/73792716.cms">Two-day PSU bank strike impacts services</a> <a href="https://www.businessinsider.in/finance/news/banks-union-strike-blocks-cheques-worth-23000-cr/articleshow/73795548.cms">Banks union strike blocks cheques worth ₹23,000 crore</a>

Three years and five strikes later, wage revision for public sector bank employees at par with 2012

Kolkata, Feb 29 () The proposed three-day bankstrike in the country called by various unions from March 11has been deferred following 'positive' developments at thebipartite meeting held in Mumbai on Saturday, an AIBEAstatement said here.The strike had been called by the constituents ofUnited Forum of Bank Unions (UFBU), the umbrella body of thetrade unions in the banking sector.All India Bank Employees' Association (AIBEA) statementsaid that in the bipartite meeting, which was held between theunions and Indian Banks Association (IBA), discussions wereheld in respect of offer of increase in pay slip cost to 15per cent, demand for five-day banking among others.The statement added that IBA has agreed to discuss allother issues raised by the unions.Bank unions had observed a two-day strike from January31 after talks over wage revision failed to make headway withthe IBA. dcKK KK

Bank strike deferred

<ul><li>India’s public sector banks will be shut for nearly a week in March between 10 and 15. </li><li>Union employees are going on a <keyword id="6358138" type="PERSON" weightage="20" keywordseo="Strike">strike</keyword> demanding wage hikes. </li><li>Bank employees claim that their basic salary is half of what other central employees get. </li></ul>India’s public sector banks will be shut for nearly a week in March between 10 and 15 as union employees are going on a strike demanding wage hikes. The strike is timed with the festival of Holi and ahead of the second weekend of March ensuring that banks and customers alike take note of their dissent - with a long gap in banking services. Bank employees claim that their basic salary is half of what other central employees get. Difference in wages of bank and central government employees <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salary per month </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ol><li>Bank Sub Staff (Assistant, Operator) </li></ol>Central Employee Pay Band One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9560 ₹18000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ol><li>Bank Clerk </li></ol>Central Clerk Pay Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11,765 ₹25,500 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ol><li>Bank Officer Scale-1 </li></ol>Central Government Pay Band three </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23,700 ₹56,100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ol><li>Deputy Manager - 2 </li></ol>Central Employee Pay Band three scale 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹31,700 ₹67,700 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><ol><li>General Manager -3 </li></ol>Central Employee Pay Band -4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹42,020 ₹78,800 </td></tr></tbody></table>Note: this is the basic income of bank/central government employees, as of 1 January 2018 The unions demanded a wage hike of 20% on pay slip components. However, <keyword id="109886" type="COMPANY" weightage="20" keywordseo="Indian-Banks-Association">Indian Banks Association</keyword> (IBA) says they will settle for a hike upto 19%. Employees called the strike after they didn’t get a chance to talk to IBA about wage revision. This is the second bank strike of 2020 and there is one more to go. Previously, banking operations, including cash withdrawal and cheque clearance, were hit due to two-day nationwide strike in the start of February. The bank unions also planned another indefinite strike from April 1 if their demands aren’t fulfilled. Bank wage revisions take place every five years. Last one was due in 2017 which has not happened, leaving employees angry and frustrated. In the past wage settlement, which was for the period November 1, 2012, to October 31, 2017, employees received a wage hike of 15%.

Banks will be shut for six days next month as employees protest ‘half’ wages

It will be a long and arduous weekend for bank customers of Indian public sector banks. Four banking unions have called for a strike, protesting the merger of ten banks announced by Nirmala Sitharaman on 30 August 2019. Other inconveniences aside, public sector banks will remain closed for two days on 26 and 27 September 2019. This strike is followed by 28 September 2019, which is the fourth Saturday of the month — a banking holiday. After the weekend, the banks will also be shut next Monday as it is the half-yearly closing day as the quarter ends. Overall, this means that public sector banks will be closed for five days straight. After a one day respite on 1 October 2019, banks will be shut again on 2 October 2019 for Mahatma Gandhi Jayanthi — another holiday. The continuous shutdown will affect cheque clearances, cash deposits and withdrawals, demand draft clearances and other transactions. This long pause in public banking services will also affect online transactions like RTGS and NEFT. However, IMPS transactions will continue providing respite to scores of customers. The country’s largest bank, State Bank of India (SBI) admitted that the strike might affect operations. “While the bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our bank may be impacted to some extent by the strike,” SBI said in a statement on Bombay Stock Exchange. All India Bank Officers Confederation (AIBOC), All India Bank Officers Association (AIBOA), Indian National Bank Officers Congress (INBOC) and National Organization of Bank Officers (NOBO) have given a call for the strike.

Customers must brace for a very long weekend ahead at India's government banks

New Delhi, Jan 31 () Services of public sector banks were impacted as employee unions went on a two-day nationwide strike from Friday to press for wage revision.
 However, private sector lenders like ICICI Bank and HDFC Bank were operational.
 Many banks, including State Bank of India (SBI), had informed customers in advance that operations may be impacted to some extent due to the strike.
 Cash deposit, withdrawal, cheque clearances, instrument issuance and loan disbursement were affected.
 With this strike, banks would be closed for three days including Sunday. Banks will open only on Monday, February 3.
 The strike coincides with the beginning of the Budget session of parliament and presentation of Union Budget 2020-21.
 The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW).
 Unions claimed that about 10 lakh staff and officers of public sector banks and some private sector banks are participating in strike.
 Branches of public sector banks were closed in many parts of country, as per initial reports.
 Wage revision for employees of public sector banks is pending since November 2017.
 In the past wage settlement, which was for the period November 1, 2012, to October 31, 2017, employees got a hike of 15 per cent.
 During discussions, the Indian Banks' Association (IBA) on Thursday improved their offer to 13.5 per cent, but this was not acceptable, the unions said.
 However, IBA in a statement said despite the revised offer of up to 19 per cent hike, including performance linked incentive, made by it during the meeting on Thursday, the unions decided to go ahead with the all-India bank strike.
 A section of bank employees had gone on a day-long strike on January 8 in support of 10 major trade unions' protest call against the government's "anti-people" policies. DP ANS
ANS

Two-day PSU bank strike impacts services

Banking services across the country are likely to be partially disrupted on October 22 as two bank unions will go on a 24-hour strike on the day. The strike has been called by All India Bank Employees' Association (AIBEA) and the Bank Employees Federation of India (BEFI) to protest against recent bank mergers, falling deposit rates and issues of job security. The Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> and <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> will, however, not participate in the strike, sources in them said. Regional Rural Banks and cooperatives banks will also not participate in the strike as mergers do not affect them, sources said. Striking unions said they will shut the ATMs as these will be under the strike ambit.Bank of Maharashtra, Syndicate Bank, Bank of Baroda have expressed concern over their providing normal customer services. "We expect good response from all PSU and private banks," Bank Employees Federation of India (State Federation) General Secretary Joydeb Dasgupta said. SBI has claimed the impact of the strike on its operations will be minimum as most of its employees are not members of the participating unions. A SBI union leader said they are not participating in the strike and services will be normal. Dasgupta said SBI employees have offered moral support to the strike he said adding "It would have been good if SBI joined the strike".AIBEA and BEFI also oppose outsourcing of regular and perennial banking jobs and privatisation of banking industry, sources in them said. They have demanded adequate recruitment of clerical and sub-staff and urged for stringent steps for recovery of mounting bad loans, the sources added.

Banking services will be disrupted as two unions declare a strike tomorrow

Associated Chambers of Commerce and Industry of India (<keyword id="6355988" type="CITY" weightage="100" keywordseo="Assocham">ASSOCHAM</keyword>) has said that the day-long strike that <keyword id="6355548" type="ORGANIZATION" weightage="100" keywordseo="Public-Sector-Banks">public sector banks</keyword>' employees have observed today, to protest the proposed merger of <keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword> associates with the parent and other issues, will most likely affect transactions worth Rs 12,000 crore to Rs 15,000 crore. 
 
Around 10 lakh employees observed a strike today, hitting services at around 80,000 branches in the country. 
 The <keyword id="2002299" type="UNKNOWN" weightage="100" keywordseo="United-Forum-of-Banks-Unions">United Forum of Banks Unions</keyword> (<keyword id="723500" type="CITY" weightage="100" keywordseo="UFBU">UFBU</keyword>), which is the umbrella organisation of nine bank employees and officers unions and represents 8 lakh staffers, had <a href="http://www.businessinsider.in/bank-employees-strike-on-29th-July/articleshow/53192346.cms">declared the strike</a> on 13th July. The strike affected services like cheque clearances, cash deposit and withdrawal at branches and other facilities. 
 
"Public sector banks (PSBs) are already less profitable and have relatively higher ratios of non-performing assets (NPAs) compared to private sector banks. As such a complete halt of banking transactions following UFBU's decision to go on strike might result in significant losses," Assocham Secretary General D S Rawat was reported saying. 
 
Rawat stressed that banking sector reforms are the "need of the hour," and the functioning of the PSBs needs to be refurbished. 
 
<a href="http://en.etemaaddaily.com/pages/specials/2002BankStrike_PTI.JPG">Image source</a>

Assocham predicts bank strike to affect transactions worth Rs 15,000 crore

Around 10 lakh <keyword id="6477319" type="UNKNOWN" weightage="100" keywordseo="Bank-Employees">bank employees</keyword>, belonging to public and private sectors, have decided to observe a day-long strike on July 29, as a protest against the "anti-people" banking reform policies that the centre has announced. 
 
The United Forum of Bank Unions (UFBU), which consists of nine trade unions across the country, have around 10 lakh bank employees and officers, all of which would be taking part in the strike. 
 
The employees have several demands, including not to privatise public sector banks or to increase private capital in such banks, while also protesting against Foreign Direct Investment in the banking sector. 
 Other than this, the unions are also opposing move to privatise regional rural banks, co-operative banks, consolidate and merging banks among others, said All India Bank Employees Association (<keyword id="327672" type="ORGANIZATION" weightage="100" keywordseo="AIBEA">AIBEA</keyword>) General Secretary C H Venkatachalam. 
 
<a href="http://www.thehindubusinessline.com/multimedia/dynamic/02414/BL23_04_BANK_2414766f.jpg">Image source </a>

10 Lakh bank employees to go on strike on 29th July, protesting against unfriendly reforms

The rupee depreciated by 37 paise to close at 81.63 (provisional) against the US dollar on Thursday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities. Forex traders said the American currency strengthened after strong US retail sales data pointed to resilient consumption adding room for tighter policy by the <keyword id="6356435" type="General" weightage="80" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword>. At the interbank foreign exchange market, the local unit opened at 81.62 and later witnessed an intraday high of 81.45 and a low of 81.68 during the session. The domestic unit finally settled at 81.63 against the American currency, registering a fall of 37 paise over its last close. On Wednesday, the rupee depreciated by 35 paise to close at 81.26 against the US dollar. US retail sales posted the biggest increase in eight months in October. UK inflation number came in at 11.1 per cent, to a 41-year high, as compared to 10.1 per cent in the previous month, said <keyword id="12834279" type="General" weightage="80" keywordseo="gaurang-somaiya" source="Orion">Gaurang Somaiya</keyword>, Forex &amp; Bullion Analyst, <keyword id="113829" type="General" weightage="80" keywordseo="motilal-oswal-financial-services" source="Orion">Motilal Oswal Financial Services</keyword>. "We expect the USD-INR (Spot) to trade sideways and quote in the range of 81.05 and 81.60," Somaiya said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.26 per cent to 106.55. Global oil benchmark Brent crude futures declined 0.40 per cent to USD 92.49 per barrel. On the domestic equity market front, the 30-share <keyword id="35140" type="General" weightage="80" keywordseo="bse" source="Orion">BSE</keyword> Sensex fell 230.12 points or 0.37 per cent to end at 61,750.60, while the broader NSE Nifty declined 65.75 points or 0.36 per cent to 18,343.90. Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 386.06 crore on Wednesday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/india-inc-q2-fy23-revenue-rises-to-25-6-lakh-crore-here-are-the-winners-and-losers/slidelist/95577982.cms">India Inc. Q2 FY23 revenue rises to ₹25.6 lakh crore – here are the winners and losers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bank-strike-on-saturday-operations-in-some-public-sector-banks-likely-to-be-hit/articleshow/95579052.cms">Bank strike on Saturday: Operations in some public sector banks likely to be hit</a>

Rupee falls 37 paise to close at 81.63 against US dollar

New Delhi, Jan 31 () Following are the top business stories at 1838 hours
 
DEL108 BIZ-2NDLD SURVEY 
Economic Survey sees pick up in growth but calls for expansionary policy
New Delhi: The Economic Survey on Friday projected revival of economic growth to 6-6.5 per cent in the next fiscal beginning April 1 but suggested the government to relax the budget deficit target to boost growth from a decade low.
 
DEL149 BIZ-LD GDP GROWTH
GDP growth rate for 2018-19 revised downwards to 6.1 pc
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Business highlights

New Delhi, Feb 1 () Services of public sector banks were impacted on Saturday as nation-wide strike by employee unions entered its second day.
 The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) to press for wage revision pending since November 2017.
 However, private sector lenders like ICICI Bank and HDFC Bank were operational.
 Branches in several parts of the country remained closed and some of the ATMs also went dry, according to reports coming various parts of the country.
 Many banks, including State Bank of India (SBI), had informed customers in advance that operations may be impacted to some extent due to the strike.
 Cash deposit, withdrawal, cheque clearances, instrument issuance and loan disbursement were affected.
 The strike coincides with the beginning of the Budget session of parliament and presentation of Union Budget 2020-21.
 Unions claimed that about 10 lakh staff and officers of public sector banks and some private sector banks are participating in strike.
 Wage revision for employees of public sector banks is pending since November 2017.
 In the past wage settlement, which was for the period November 1, 2012, to October 31, 2017, employees got a hike of 15 per cent.
 During discussions, the Indian Banks' Association (IBA) on Thursday improved their offer to 13.5 per cent, but this was not acceptable, the unions said.
 However, IBA in a statement said despite the revised offer of up to 19 per cent hike, including performance linked incentive, made by it during the meeting on Thursday, the unions decided to go ahead with the all-India bank strike. DP DP ANS
ANS

Nation-wide strike impacts banking services at PSU banks

Mumbai, Jan 31 () Bank employee unions went on a two-day strike on Friday to press for wage revision and other demands, hitting services like cash deposits, withdrawals and cheque clearances across the country.
 All India Bank Employees' Association claimed that around 31 lakh cheques amounting to Rs 23,000 crore remained uncleared across the country on the first day of the strike. 
 Various bank branches were closed in many parts of the country affecting services like cash deposit, withdrawal, cheque clearances, instrument issuance and loan disbursement. 
 ATMs of many banks across major parts of the country went dry, causing trouble to people on the last day of the month. 
 "In the clearing grids in Mumbai, Chennai and Delhi, about 31 lakh cheques worth about Rs 23,000 crore could not be cleared due to the strike," All India Bank Employees' Association (AIBEA) general secretary C H Venkatachalam said.
 Close to 10 lakh bank employees and officers of various public sector banks, some old generation private banks and a few foreign banks are on a two-day strike, starting Friday, after the negotiation on wage revision under 11th bipartite settlement failed, unions said. 
 However, private sector lenders like ICICI Bank and HDFC Bank were operational.
 On Saturday, bank branches will continue to remain closed, adding to woes of the public on the salary day.
 With this strike, banks would be closed for three days including Sunday. Banks will open only on Monday, February 3. 
 The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW).
 UFBU decided to go on strike after its discussion with Indian Banks Association (IBA) on wage revision failed in the recent round of negotiations held on Thursday.
 During discussions, the IBA on Thursday improved their offer to 12.5 per cent, but this was not acceptable, the unions said. 
 "The bank managements and IBA did not come forward to settle the demands with a reasonable increase in salary looking to inflation and heavy workload on the employees," UFBU said.
 However, the IBA in a statement said despite the revised offer of up to 19 per cent hike, including performance linked incentive, made by it during the meeting on Thursday, the unions decided to go ahead with the all-India bank strike.
 Wage revision for employees of public sector banks is pending since November 2017.
 In the past wage settlement, which was for the period November 1, 2012, to October 31, 2017, employees got a hike of 15 per cent.
IBA also rejected the unions demand for five-day banking saying, "It is known to all that the economy of the country is going through testing times. Banks being the principal players in economic development, cannot afford to provide lesser number of working days for banking activities."
 The banking lobby said the country already has one of the highest numbers of public holidays and adding 26 more holidays would create more problems for the public.
 "IBA is claiming five-day banking is not possible due to the tough economic situation in the country. Then how RBI, Department of Financial Services (DFS), NCLT, Central Vigilance Commission (CVC) and other central and state departments are working for five days in a week? Are these institutions not worried about the economic slowdown?" asked a section of agitating bankers. HV MR
MR

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