No Bank Strike on 26-27th September

Moneylife Digital Team 24 September 2019

Economy & Nation

Following discussions with the government and receiving assurance to set up a committee for looking into the issues arising out of public sector bank (PSB) consolidation, the 26th and 27 September 2019 strike called by bank officer's union has been deferred.

"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," bank unions said in a statement.

The strike call was given by four officers' unions of the banking industry -- All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers Congress (INBOC) and National Bank Officers' Organisation (NOBO).

The strike was deferred by the four officers' unions of the banking industry after their representatives met with Finance Secretary Rajiv Kumar, who gave positive feedback on the formation of a Committee which will look into the issues arising out of the merger.

The unions says, "An appeal was made to us to revisit our strike call in view of the discussions... In view of the consideration of the positive and workable solution by the Secretary, Finance, the 48-hour strike from midnight of 25th September, 2019 to 27 September, 2019 stands deferred."

The development assumes significance as the proposed strike call by the state-run lenders' unions against the mega PSB merger would have commenced on 26th September, Thursday, and end on 27th September, Friday.

This strike, along with the planned monthly non-working day of fourth Saturday on 28th September and Sunday on 29th September, would have effectively shut PSB operations for four consecutive days, thus, hampering cash withdrawals at branches and automatic teller machines (ATMs). In addition, on Monday, 30th September, banks have half-yearly closing.

Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Dr.Dhananjaya Bhupathi

7 years ago

https://www.govtempdiary.com/2019/09/bank-unions-defer-2-day-strike-aiboc-aiboa-inboc-inobo/58908?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+govtempdiary%2FCFjz+%28GOVTEMPDIARY%29

1. HATS OFF TO THE DFS, UFM, FINANCE SECRETARY SHRI RAJIV KUMAR & THE UFBU LEADERSHIP!!!
2. When the visionary in DFS agreed to sort out the issues amicably, the strike has been averted. â€œAccording to Justice Hegde, good governance can be provided by public servants only if they realize that â€œthey are not masters of the people, but they are only servants of the people and that they owe a duty to the peopleâ€. For this, he says, they will have to follow certain principles of 'Raj Dharma'. The ingredients of 'Raj Dharma' is enumerated in a report prepared by Lord Nolan from the UK, which is known as 'standards in public life", and include selflessness, integrity, objectivity, accountability, openness, honesty, and leadershipâ€.
3. But, the staff at PMO & UFM is expected to have a changed mindset to catch the vision of the PM. Moreover, the businessmanâ€™s greedy- mindset of BJP/RSS cadres + decision-makers in UFM is such that the employees need not be paid much; notwithstanding their vast contribution + honesty to the core & hard-working nature. A sea-change in tune with fast Indian social change must be the order of the day.
4. Shri Narendra Modi envisions ensuring a bright future to the teeming millions of the well-qualified Indian youth.

5. Total PSB+ SBI Deposits come to [127+37} Rs.164 trillion [1 trillion=1 lac crores]; whereas Modiji wants to mobilize Rs.350 trillion [US $.5 x 70]. It is approximately double + to the existing deposits. The credit for such enormous PSB-deposit growth goes to the competent managements & hard-working & honest to the core- micro & macro level workforce [starting from Attenderâ€“Scale VII Executives- GMs].
6. When the existing honest to the core + hard-working staff has to put up double the output; they are, already, put to unlimited stress & strain. The majority are said to be inclined to go on VRS. Big-ticket NPAs are the creation of PSB Boards, involving CMDs, CEOs, and EDs, etc.
7. POST-PSB MERGER SCENARIO & REMEDIES:
a. Enmasse Closure of Branches-followed by en masse VRS by existing staff.
b. ONE SC SENIOR LAWYER USED TO SAY â€˜FOR EVERY COMPLICATED ISSUE, AN INTELLIGENT PERSON HAS A SIMPLE REMEDYâ€. IT IS NONE ELSE OTHER THAN SHRI NARENDRA MODI & SMT. NIRMALA SITHARAMAN TO RESOLVE THE ISSUE!!!
8. When GOI is half-way on mergers, UNREST is avoidable just with ordnance from the Presidentâ€™s office. Let PSB employeesâ€™ wages & pensions be brought under CPC purview.
9. When RBIâ€™s reserves were taken out Rs.2 trillion to import Rafaale fighter planes, RBI EMPLOYESâ€™ WERE SANCTIONED PENSION UPDATION. Bank employeesâ€™ Pension Fund Rs.1.20 trillion can be transferred to Central Exchequer. To meet the retireesâ€™ pension up-dating, FP enhancement & other needs, etc. PSBs continue to contribute to the Pension Fund.
10. https://www.youtube.com/watch?v=T7fOf8rUrdw.
11. SATYAMAEVA JAYATHE!!!