Big Shock: 10 Lakh Bank Employees On Strike!

In a move that directly affects all the banking transactions in India including salaries crediting, withdrawal and ATM transactions, over 10 lakh bankers in the government and private sectors are gearing up for a two-day strike beginning on May 30, 2018. This is after the talks between Bank Employees’ Unions and Indian Banks’ Association (IBA) have failed over the wage revision.

Going into details, employees’ unions say that the wage revision has been due since Nov 1, 2017. While the IBA has come forward to give 2 percent hike in the wages of employees, the the Bank Employees’ Unions have rejected the 2 percent salary hike offer made by IBA and called for 2-day strike.

The strike is spearheaded by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions. This is likely to affect the people a lot given that it was announced in the end of month where salaries of various employees and payments of various businesses would be made.