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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

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

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

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

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

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 <keyword id="110491" type="ORGANIZATION" weightage="100" keywordseo="Indian-Bank-Association">Indian Bank Association</keyword> (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.

Banking Services And Markets Suffer
Due To Strike

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>LONDON (AP) - Bank of England workers are set to go on strike Tuesday for the first time in 50 years.Last-ditch talks on Monday failed to avert the three-day strike over what they say was a pay offer that was below the inflation rate.Members of the Unite union blamed Bank of England Governor Mark Carney for the breakdown in talks.The workers, many of whom work in security and maintenance, planned to protest outside the central bank wearing masks bearing the governor's image.The Unite union have balloted 84 members of staff, according to <a href="http://www.independent.co.uk/news/business/news/bank-of-england-strike-maintenance-workers-walkout-trade-union-name-of-union-talks-industrial-action-a7869426.html">The Independent</a>. With the action set to take place as the Bank of England holds "Super Thursday" when they announce their quarterly inflation report.&#xa0;The strike will take place outside the Bank's Threadneedle Street offices for the first time in history.&#xa0;<div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/white-walkers-rode-central-london-horseback-game-of-thrones-winter-coming-season-7-hbo-oxford-circus-street-tower-bridge-buckingham-palace-2017-7">'White Walkers' just rode into central London on horseback to promote new 'Game of Thrones' season</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="M1N3Z2YjE6lhvh2PW5Sc7HAgmRjMk2fy" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Bank of England maintenance, security, and hospitality workers to go on strike

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

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
New Delhi: The government on Friday revised downwards the economic growth rate for 2018-19 to 6.1 per cent from 6.8 per cent estimated earlier, mainly due to deceleration in mining, manufacturing and farm sectors.

DEL128 BIZ-LD STOCKS
Markets recoil as Eco Survey stokes fiscal slippage fears; all eyes on Budget
Mumbai: The Sensex skidded 190 points while the Nifty closed below the 12,000-mark on Friday after the Economic Survey suggested relaxing fiscal deficit target to boost growth from a decade low. 

DEL135 BIZ-INFRA-GROWTH
Core sector growth recovers to 1.3 pc in Dec 
New Delhi: Growth of eight core industries recovered to 1.3 per cent in December 2019 after remaining in the negative zone in the previous four months helped by expansion in production of coal, fertiliser and refinery products.
 
DEL134 BIZ-RUPEE-CLOSE
Rupee rises 25 paise to 71.33 against US dollar
Mumbai: The Indian rupee on Friday appreciated by 25 paise to end at 71.33 against the US dollar on Friday after the Economic Survey 2019-20 predicted bullish growth figures for the next financial year.

DEL122 BIZ-SURVEY-LD-THALINOMICS
Thalinomics in times of rising prices: Veg, non-veg thalis more affordable, says Eco Survey
New Delhi: Rising inflation may have burnt a hole in common man's pocket but Finance Ministry's chief economic advisor believes otherwise as he brought a novel 'thali' concept to otherwise heavy-duty data crunching to drive home the point that affordability of a plate of meal has improved.
 

DEL77 BIZ-RESULTS-SBI
SBI profit jumps 41pc to Rs 6,797cr in Q3 on lower provisioning
New Delhi: The country's largest lender SBI on Friday reported a 41 per cent jump in net profit to Rs 6,797.25 crore in the October-December quarter this fiscal compared to Rs 4,823.29 crore in the year-ago period.
 

DEL44 BIZ-WIPRO-LD CEO
Wipro CEO Abidali Z Neemuchwala to step down, board scouts for successor
New Delhi: IT services major Wipro on Friday said its CEO Abidali Z Neemuchwala has decided to step down, and the company's board has started scouting for his successor.
 
DEL32 BIZ-BANK-STRIKE
Two-day PSU bank strike impacts services
New Delhi: Services of public sector banks were impacted as employee unions went on a two-day nationwide strike from Friday to press for wage revision.

DEL58 PREZ-INFRA
Over Rs 100 lakh cr to be spent in next 5 yrs on building modern infrastructure: Prez
New Delhi: The government has decided to invest more than Rs 100 lakh crore on building modern infrastructure in the country with a special emphasis on connectivity, President Ram Nath Kovind said on Friday. 
 SHW
SHW

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

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

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Bank strike deferred

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Two-day PSU bank strike impacts services

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

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

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Banking Services And Markets Suffer Due To Strike

BI India Bureau

Bank of England maintenance, security, and hospitality workers to go on strike

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

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