Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Phone Reviews
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Phone Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / India News / Banks go on a strike: Which services would be affected?
  • India

    Banks go on a strike: Which services would be affected?

    Siddhant Pandey
    Written by
    Siddhant Pandey
    Twitter
    Last updated on Jan 31, 2020, 04:44 pm
    Banks go on a strike: Which services would be affected?
  • Across India, banking services are expected to be impacted greatly this weekend as bank unions go on strike from today (January 31, 2020).

    The two-day strike will cause public sector banks to remain closed for three days, including Sunday (February 2).

    Notably, the strike also coincides with the Budget session of the Parliament.

    Here are more details.

  • In this article
    Why are bank unions on strike? Bank unions also demand 5-day workweeks, improved pension system, etc. Previous discussions between bank unions, management failed Which banks will be affected? Cheques worth Rs. 23,000 crore couldn't be cleared: Venkatachalam Bank unions had also joined recent 'Bharat bandh'
  • Bank strike

    Why are bank unions on strike?

    Why are bank unions on strike?
  • The United Forum of Bank Unions had called a nationwide bank strike from January 31-February 1 over wage-related demands.

    UFBU is a forum of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organization of Bank Workers (NOBW).

    The strike was called after the unions' demands for a 20% hike on payslip components weren't met.

  • Other demands

    Bank unions also demand 5-day workweeks, improved pension system, etc.

  • The bank unions have also demanded five-day workweeks, the merger of special allowance with basic pay, withdrawal of the new pension scheme, updation of pension, etc.

    Notably, the wage revision for public sector banks has been pending since November 2017. Employees had gotten a 15% hike in the last wage settlement, which was for the period November 2012-October 2017.

  • Discussions

    Previous discussions between bank unions, management failed

    Previous discussions between bank unions, management failed
  • Reportedly, discussions between the unions and bank management have been on for 30 months.

    AIBEA General Secretary CH Venkatachalam told IANS that a January 27 Delhi meeting with the Chief Labor Commissioner failed to reach a conclusion.

    The CLC then advised the Indian Banks Association to hold direct talks with bank unions, however, a January 30 meeting in Mumbai also remained inconclusive, Venkatachalam said.

  • Impact

    Which banks will be affected?

    Which banks will be affected?
  • As the bank unions went ahead with their strike from Friday, several PSU banks could be massively affected.

    The State Bank of India, India's largest lender, informed its customers that services could be hit during the strike.

    Cash withdrawal and deposit, cheque clearances, instrument issuance, and loan disbursement operations could be affected.

    However, private lenders like ICICI Bank and HDFC Bank will remain operational.

  • Quote

    Cheques worth Rs. 23,000 crore couldn't be cleared: Venkatachalam

  • Venkatachalam told IANS, "In the clearing grids in Mumbai, Chennai, and Delhi, about 31 lakh cheques worth about Rs. 23,000cr could not be cleared due to the strike. Most bank branches remained closed. Cash couldn't be deposited or withdrawn."

    Venkatachalam added that operations have been hit in Tamil Nadu, Maharashtra, Andhra Pradesh, Telangana, West Bengal, UP, MP, Delhi, Punjab, Gujarat, Karnataka, Kerala, Bihar, etc.

  • Information

    Bank unions had also joined recent 'Bharat bandh'

  • Earlier this month, bank unions had joined the trade unions' general strike or 'Bharat bandh' on January 8. Their current two-day strike significantly coincides with the presentation of the Economic Survey on Friday and the Union Budget on Saturday.

  • India
  • Karnataka
  • Telangana
  • West Bengal
  • Tamil Nadu
  •  
Latest News
  • NewsBytes Briefing: Facebook data leak gets much worse, and more
    NewsBytes Briefing: Facebook data leak gets much worse, and more
    Science
  • Coronavirus: India's tally reaches 13.6M with 1.6L new cases
    Coronavirus: India's tally reaches 13.6M with 1.6L new cases
    India
  • Next-generation Porsche Macan SUV spied testing, design details revealed
    Next-generation Porsche Macan SUV spied testing, design details revealed
    Auto
  • This is how Samsung Galaxy S21 FE will look like
    This is how Samsung Galaxy S21 FE will look like
    Science
  • 'F.R.I.E.N.D.S' reunion special finishes filming, sets pictures go viral
    'F.R.I.E.N.D.S' reunion special finishes filming, sets pictures go viral
    Entertainment
Related Timelines
  • Two-day bank strike from today: These services would be affected
    Two-day bank strike from today: These services would be affected
    Business
Trending Topics
ISRO Vaccine
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love India news?

Subscribe to stay updated.

India Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Chris Lynn Samsung Virat Kohli
Rohit Sharma Cricket News Mahendra Singh Dhoni YouTube Hollywood News WhatsApp Bollywood News Real Madrid ISRO Yoga
Honda Batman Football News BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Apple Tesla
Royal Challengers Bangalore Toyota Fashion Tips Amit Shah Mercedes Sidharth Malhotra Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV
Smart TV Marvel Comics Avengers Neha Kakkar
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021