Bank Strike: Unions warn of agitation from 26th September against PSB Mergers

IANS 14 September 2019

Economy & Nation

Four bank unions have threatened to go on a two-day strike from September 26 to protest against the government decision to reduce 10 state-run banks to four through mergers.

These four unions have also sought fulfilment of a charter of nine demands, including wage revision.

Due to strikes and holidays, the several banks across the country will remain closed from September 26 to September 29, which can affect customers' regular banking services. September 28 will be the last Saturday of the month and September 29 is a Sunday, and hence banks will be closed on those two days.

The four banking unions - All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers' Congress (INBOC), National Organisation of Bank Officers (NOBO) - have called for a strike following the recent government announcement on consolidation of 10 public sector banks into four.

In a letter to the Chairman, Indian Banks' Association, signed by the General Secretaries of the four organisations, on Thursday, the unions said: "In accordance with the provisions contained in sub-section (1) of Section 22 of the Industrial Dispute Act 1947, we hereby give you notice that 4 Officers' Trade Union Organizations as stated above, propose to go on continuous strike from midnight of 25th September to midnight of 27th September 2019 and indefinite strike from the second week of November 2019."

The organisations have said that they are doing so to oppose the "merger and amalgamations in the banking sector."

They have also listed out nine demands -- expeditious wage revision as per Charter of Demands, with an unconditional and clear mandate from all banks; immediate introduction of a 5 day week in full; reduction of cash transaction hours and regulated working hours; halting of undue interference in the existing procedure of vigilance cases by outside agencies; under provisions of amended Section 17(A) of Prevention of Corruption Act, 2018; settlement of issues pertaining to retirees-updation of pension as per RBI formula/revision of family pension without any ceiling, quantum and percentage; and medical insurance at par with serving employees.

The other demands listed by the unions include -- adequate recruitment, scrapping NPS and reintroduction of Defined Pension Payment Scheme, reduction of service charges for customers and stopping of harassment of Officers under specious plea of non-performance.

"We strongly oppose and protest the government's move of merger/consolidation of public sector banks. Just adding two balance sheets will not make a resultant balance sheet stronger," they said in their strike notice.

Finance Minister Nirmala Sitharaman had on August 30 announced that the Punjab National Bank, the Oriental Bank and the United Bank will be merged to become the second largest PSU Bank in India. The Canara Bank and the Syndicate Bank will be merged to become the 4th largest PSB, while the Union Bank, the Andhra Bank and the Corporation Bank will be amalgamated into a single entity to be the 5th largest PSB, and the Indian Bank and the Allahabad Bank will become one entity to be the 7th largest PSB.

The Finance Minister further said that the Bank of India and Central Bank of India would remain independent. After the amalgamation, only 12 PSBs will be left in India from the 27 earlier.

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Comments

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Mohan Krishnan

7 years ago

On behalf of all tax payers (Direct and Non Direct), and also millions of small savers who have kept their hard earned money in these Banks, I strongly urge Govt to declare this strike threat as a "terrorist action" and put the leaders of these corrupt organisations behind bars. These crooks have acted against demonenitisation, colluded with the corrupt system to enrich themselves. Please stop their low interest housing loans, education loans on preferential basis and other benefits they enjoy at our cost. The world over Bankers are called "Banksters" , "Master of the Universe" etc. They are one of the most hated group all over the World for robbing the poor and colluding with the rich. Now these people don't want inquiry into corruption cases by outside organisation.

TIHARwale

7 years ago

It is a fact every one from staff to board members were responsible for the present state of Public Sector Banks. the staff who respond to strike calls should under stand that had it been a manufacturing company "lockout" might have been declared some 7 years ago itself. Many a leading manufacturing units in confectionary, inner garment , automobile sector etc to name a few have already cut down production days to just 4 days so that "lockout" situation is delayed. in Bank merger situation is not going to improve much but definitely when 2 banks are merged into 3rd two CEOs are certain to lose their job and so also top office bearers their Union office whereas for staff it will be gain only. hence it is nothing short of criminal on the part of Union leaders to call strike in protest against merger. So striking bank employees should be given harsh action by the owner (Government) and bring sense to Bank staff