Bank strike on January 8 likely to impact operations at several PSU banks

BEFI said that labour minister Santosh Kumar Gangwar invited the leaders of the central trade unions on January 2 and has informed the unions that the government has been taking all steps for the welfare of the workers.

“The constituents of united platform of trade unions viz., AITUC, HMS, CITU, AIUTUC, SEWA, AICCTU, LPF and UTUC who were present in the meeting strongly contradicted and protested the statement of the Minister and stated that the entire Labour Codes are a design of imposing slavery on the workers and it is not acceptable to the trade union movement of the country and they will not surrender,” said the union in a circular, dated January 4.

The unions are also protesting against the proposed merger of 10 PSU bank to create four entities as announced by finance minister Nirmala Sitharaman in August 2018.

"The reasons being offered for the merger are utterly false and deceptive," said AIBEA in a circular dated January 2.

“The bank is taking necessary steps for smooth functioning of its branches/offices on the day of the proposed strike,” Syndicate Bank and Bank of Baroda said in separate regulatory filings.

“However, in the event the strike materializes, the functioning of the branches/offices may be impacted by the strike,” they added.

SBI said, “The membership of our bank employees in unions participating in the strike is very few, so the impact of the strike on Banks operation will be minimal.”