In demand of better wage, pension and hiring “on compassionate ground” eight hundred thousand employees of Indian banks went on a two day strike beginning from
The strike was called upon by United Forum of Bank Unions (UFBU), the head organization which represents four officers’ trade unions and five employee trade unions. UFBU is the representative of more than 95% of the bank employees in
The UFBU demanded 20% rise in salary, allow Provident funds to another 270,000 employees who applied for it and the 70:30 sharing of the Rs.6000 crore deficit in the pension funds between banks and employees. The Indian Banks’ Association (IBA) offered 17.5% salary hike.
This strike affected the business of the country. In Mumbai, on Thursday, twelve percent of 72000 cheques were submitted for clearance. Normally, 114 banks do clear these cheques but 36 banks were shut down for the strike.