Over 10 lakh employees participate in nation-wide strike
What's the story
Over 10 lakh employees of Public Sector banks have decided to go on strike today, a move that will severely affect banking operation across India. The UBFU, an umbrella organization held talks with the Government, however the deadlock was not broken and the strike is to carry on as planned. Everyday operations like cheque clearance, deposits and withdrawals are expected to hit.
AIBEA
All India Bank Employees' Association
The All India Bank Employees' Association is the oldest and largest national trade union centre of bank employees in India. It was founded on 20th April, 1946, in Kolkata. The onset of AIBEA encouraged the formation of unions in different banks. Apart from improvements in wages and service conditions, AIBEA has also campaigned for the nationalisation of banks.
20 May 2016
SBI associate bank employees observe strike
On 17th May, 2016, the Board of Directors of SBI contemplated acquiring their associate banks. 50,000 SBI associate banks' employees went on strike on 20th May, 2016, to show their support against the proposed merger. Employees of State Bank of Mysore, State Bank of Hyderabad, State Bank of Bikaner and Jaipur, State Bank of Patiala and State bank of Travancore observed the strike.
Information
Merging of 5 associate banks
On 16th June, 2016, the merger of the five associate banks was approved by the Union Cabinet. The chairman of SBI, Arundhati Bhattacharya, described this as a "win-win for both".
09 Jul 2016
12th, 13th July scheduled for nationwide bank strike
On failure of conciliatory talks in a meeting summoned by the Chief Labour Commissioner, it was announced that bankers will observe a strike on the 12th and 13th July, 2016. According to AIBEA General Secretary, "On 12th July, the strike will be observed by the employees of Associate Banks; on 13th July, 45,000 employees of all banks will take part in the strike."
12 Jul 2016
High Court constrains PSU employees from observing strike
State Bank of Patiala and four other subsidiary banks of SBI moved the High Court on a plea to stay the strike proposed by public sector bank employees. The plea was accepted and State Sector Bank Employees' Association (SSBEA) and All India Bank Employees' Association (AIBEA) were refrained from observing the strike. The matter was listed for further hearing on 20th July, 2016.
The Strike
Reasons for the nationwide strike
The employees going on strike will be demanding for not privatising public sector banks, increasing private capital in public sector banks and discouraging FDI in the banking sector. They are also against the privatisation of regional rural banks and co-operative banks, and the consolidation and merging of banks. The United Forum of Bank Unions (UFBU), consisting of 9 trade unions, will observe the strike.