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Banking Services Likely To Be Hit On January 8, 9: All You Need To Know

In the stock exchange filing, Allahabad Bank said the issues and demands are of industry level and strike call is also given at industry level.

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Banking Services Likely To Be Hit On January 8, 9: All You Need To Know

Bank strike: This is the third bank strike in less than a month.

Banking services are likely to be hit across the country on Tuesday and Wednesday. A section of state-run bank employees have decided to go on a two-day strike on January 8 and 9. The All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BSFI) have informed the Indian Banks' Association (IBA) of the two-day nationwide bank strike "in support of their various demands", IDBI Bank said in a regulatory filing to the Bombay Stock Exchange (BSE) on Saturday.
Here are 10 things to know about the bank strike:
  1. "In the event of AlBEA and BEFI proceeding on strike on January 8-9, 2019, the functioning of bank's branches/offices in some of the zones may be affected," state-run Bank of Baroda said in a separate regulatory filing.
  2. Allahabad Bank said the issues and demands are of industry-level, and the bank strike call is also given at industry-level.
  3. "If the strike takes place, the functioning of branches of the bank may be affected. The bank is taking all the necessary steps in terms of the existing guidelines for smooth functioning of bank's branches/offices on the day of strike(s), in the event the strike materialises," Allahabad Bank said. 
  4. Private sector lender Karur Vysya Bank said, "If the strike call materialises, the workmen of our bank may take part in the proposed strike on the said date, in which occasion the normal working of the branches/offices of the bank may get affected during the day."
  5. Ten central trade unions have also called for a nationwide general strike on January 8-9. Around 20 crore workers will go on a two-day nationwide strike from Tuesday to protest against the government's alleged anti-worker policies and unilateral labour reforms, central trade unions said.
  6. This is the third bank strike in less than a month. Earlier, on December 26, 2018, banking services at branches of state-run banks across the country were hit following the bank strike by unions against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda.
  7. The strike that time was called by the United Forum of Bank Unions (UFBU) -- an umbrella organisation of all nine unions including the All India Bank Officers Confederation (AIBOC), AIBEA, National Confederation of Bank Employees (NCBE) and the National Organisation of Bank Workers (NOBW).
  8. On December 21, 2018, an officers' union of state-run banks, All India Bank Officers' Confederation (AIBOC), observed a day-long strike to protest against the merger and also demanded immediate settlement of wage negotiations.
  9. The government had in September proposed the merger of Bank of Baroda, Vijaya Bank and Dena Bank, which was approved by the Cabinet Committee on Economic Affairs (CCEA) on January 2, 2019.
  10. The merged entity will become the third largest bank in the country, after government-owned State Bank of India and private sector lender ICICI Bank. The merger will come into force on April 1, 2019, the government said in its statement. (With inputs from agencies)


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