Banking Operations Partially Hit Due To Trade Unions Strike: 10 Things To Know

Services have been hit in some banks while the operation in State Bank of India (SBI) and private sector banks remain unaffected as seven unions in the banking sector are not part of the strike.
The general strike has been called by the CTUs demanding fulfilment of a 12-point charter of demands including inflation control, minimum monthly salary of Rs 18,000, equal pay for equal work, social security provisions, discontinuation of foreign investments in railways, banks and insurance sectors and jobs for unemployed youths, among others, according to Press Trust of India.
The unions are also opposed to the proposed amendments in Trade Union Act, 1926, saying those are irrational and extremely damaging to the independent functioning of unions.
Many public sector banks had already informed their customers about likely impact on services if strike materialised.
"If the strike materialises, a section of the bank's employees may take part in the proposed strike on the said dates, in which case, the normal functioning of the branches/offices of the bank may get affected," Indian Bank had said in a statement.
Private sector lender Karur Vysya Bank had 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."
"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 had said.
On December 26, 2018, branches of state-owned banks were shut on account of a nation-wide strike called by the United Forum of Bank Unions (UFBU) against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda.
Workers at state-owned banks also called a nationwide strike on December 21 to protest against the merger and also demanded immediate settlement of wage negotiations. Private sector banks were not affected by these two strikes.
The Cabinet Committee on Economic Affairs (CCEA), however, approved the proposed merger on January 2, 2019. (With inputs from agencies)