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State-Run Banks To Remain Shut For Two Days This Week As Strike Deferred

If materialised, the two-day strike would lead to a four-day halt in banking operations, with Saturday and Sunday being regular holidays.

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State-Run Banks To Remain Shut For Two Days This Week As Strike Deferred

Bank strike called off: Four unions of state-run bank employees had called for a two-day strike

Trade unions of state-run bank staff on Monday called off a two-day strike scheduled for this week. Four unions had called a 48-hour bank strike to protest against the mega merger of public sector lender announced by the government and demand for a wage revision. In a joint statement dated September 23, the four trade unions said the decision to defer the strike followed assurance from Finance Secretary Rajiv Kumar who would look into their concerns. A strike on Thursday and Friday would have led to a four-day disruption in banking operations, with Saturday and Sunday being holidays.
Here are 10 things to know about the bank strike:
  1. If materialised, the two-day bank strike would have led to a four-day halt in banking operations, with Saturday and Sunday being weekly offs. A strike would have hampered banking services like fund transfers and cash withdrawals at branches and ATMs.
  2. The four unions that had called for a strike were the All India Bank Officers' Confederation (AIBOC), the All India Bank Officers' Association (AIBOA), the Indian National Bank Officers' Congress (INBOC) and National Organisation of Bank Officers (NOBO).
  3. "Finance Secretary Rajiv Kumar was positive in formation of a committee consisting of all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks," the joint statement of the trade unions said. "An appeal was made to us to revisit our strike call in view of the discussions," the unions added.
  4. "The Secretary Finance was positive in formation of a committee consisting of all concerned to address the issues arising out of the proposed merger of 10 banks, including preserving the identity of all the banks," the unions said.
  5. Other demands of the unions included introduction of five-day week and reduction of cash transaction/regulated working hours.
  6. The government last month proposed four large merger plans, which would combine Punjab National Bank with United Bank of India and Oriental Bank of Commerce to create the country's second largest state-run lender after State Bank of India (SBI).
  7. Other mergers were: Syndicate Bank with Canara Bank; Allahabad Bank with Indian Bank, and Andhra Bank and Corporation Bank with Union Bank of India.
  8. The government said the merger plans would bring down the number of state-run banks in the country to 12 from 27.
  9. These unions have warned of an indefinite bank strike from the second week of November.
  10. Earlier, Bank of Baroda was merged with Vijaya Bank and Dena Bank, whereas five associate banks of SBI were merged with the country's largest lender along with Bhartiya Mahila Bank.




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