Banking Services And Markets Suffer Due To Strike

Banking operations at public sector banks across the country were badly hit yesterday due to a nationwide strike by the employees. The employee unions are demanding a wage revision.

The strike was called as the employee unions and the Indian Bank Association (IBA) failed to settle the wage dispute. While the unions are asking for a 23% hike, the IBA is ready to give just 11%. Unions have threatened to further intensify their agitation if their demands are not met.

Banks had given prior information to customers about the inconvenience. "The United Forum of Bank Union (UFBU) has given a notice to IBA calling for nationwide bank strike on November 12 and All-India State Bank Officers’ Federation and All-India State Bank of India Staff Federation being a part of UFBU will also participate in the said strike," SBI had said.