by admin | May 25, 2021 | Banking, Corporate, Corporate Buzz, Economy, Markets, News
Chennai : Over 10 lakh bankers in government and private banks will go on a 48-hour strike starting on May 30, said an All India Bank Employees Association (AIBEA) leader.
The United Forum of Bank Unions (UFBU) proposed the strike beginning 6 a.m. on May 30, till 6 a.m. on June 1, demanding early revision of wages. The wage revision has been due since November 1, 2017.
“The strike notice has been served to Indian Banks Association (IBA) representing the bank management and the Chief Labour Commissioner (Central), New Delhi,” C.H. Venkatachalam, General Secretary, AIBEA, told IANS.
The UFBU is an umbrella body of nine unions in the banking sector representing staff and officers. Wage revision talks between UFBU and IBA held in Mumbai on May 5 had ended in a failure.
Venkatachalam said the IBA offered an increase of 2 per cent over the total wage bill of the banks as on March 31, 2017.
In the last 10th Bipartite Wage Settlement that was made effective from November 1, 2012, the IBA had agreed to a hike of 15 per cent over the total wage bill.
The unions had rejected the IBA offer, Venkatachalam said.
While the government had asked the IBA to conclude the wage revision settlement before November 1, 2017, the latter has been delaying, he said.
—IANS
by admin | May 25, 2021 | Banking, News
Chennai (IANS) Around 10 lakh bankers will go on strike on July 29 against the government’s varied actions and inaction pertaining to the banking sector, said a top leader of All India Bank Employees’Association (AIBEA).
The decision to go on strike on July 29 was taken in the meeting of the United Forum of Bank Unions (UFBU) comprising all the nine unions in the sector- AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW, NOBO, held in Hyderabad on Wednesday, he said.
“The central government is going ahead with the measures that would weaken the public sector banks, inadequate capital infusion, consolidation and merger apart from issuing new bank licences, privatisation of IDBI Bank and permitting more private capital in regional rural banks,” C.H.Venkatachalam, general secretary, AIBEA told IANS on Thursday.
According to Venkatachalam, the total bad loans in the banking sector has risen to Rs.10 lakh crore.
Bulk of these bad loans are due from big corporate business houses and no serious action is being taken to recover the money, he said.
Venkatachalam said the bad loans are being provided or written off against the profits of the banks so that they report a loss.
He demanded criminal action against wilful defaulters of bank loans.
There are over 7,000 wilful defaulters owing Rs.60,000 crore to the banking sector, Venkatachalam added.
