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Banking Services to remain closed as employee unions call for strike from tomorrow

Banking services across India will be hit as the employee unions called for a strike from tomorrow.

The strike was called by the employees in protest over the pay hike. The employee unions are firm on their strike as the matter could not be resolved due to differences between India Bank’s Association and representatives of the United Forum of Bank Unions. The labour department and finance ministry tried to convince them to restrain from the strike but of no use.

Axis Bank ATM queue photo

Queue outside an Axis Bank ATM. Photo courtesy of Biswarup Ganguly and Wikipedia.

The banks have already cautioned its customers about the strike stating all works will be halted for two days.

State Bank of India said that the work in its offices and branches will be impacted to some extent due to strike. The bank unions are demanding a pay hike of 20% and management is not willing to pay beyond 12.25%. The employees are also demanding for a 5-day work week, merger of special allowance with basic pay, new pension scheme scrapping etc.

Around nine unions joined into one group named United Forum of Bank Unions and they are going to strike for 2 days. They also released a striking calendar that shows 3-day bank strike from March 11 and another indefinite all-India bank strike from April 1 if their demands are not fulfilled by the government.

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