rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Banks gear up for strike on July 28

Banks gear up for strike on July 28

July 24, 2006 15:15 IST

Employees of PSU and private banks, except State Bank of India, will go on a day-long strike on July 28 to oppose outsourcing of jobs, demand one more pension options and fresh recruitment of staff.

"We are well prepared and equipped to face the one-day strike on July 28," Punjab National Bank Chairman S C Gupta told PTI.

The ATMs of the bank will be filled in with sufficient cash to meet the customers need for urgent cash, Gupta said.

Three unions -- All India Bank Employees Association, All India Bank Officers Association and Bank Employees Federation of India -- have preponed the strike to July 28 from earlier date of August 1.

"Employees of all the PSU banks and private banks except SBI will participate in the strike," AIBEA Joint Secretary Rama Nand said. 

About five lakh employees will be on strike on July 28, demanding withdrawal of RBI circular on outsourcing of banking services and its decision to outsource clearing operations, no increase in voting rights (cap at 10 per cent) for foreign investors, filling up one lakh vacancies and one more pension option, he said.

The move to outsource services like ATMs operations, credit card, opening of accounts, cash withdrawal and deposit, issuance of draft, sanction and disbursement of loans, raised the hackles of unions who see it as a ploy reduce employees.

Though many private banks are already outsourcing these services, PSU banks who are yet to do that in a big way, are keen to outsource non-core functions.

Do you want to discuss stock tips? Do you know a hot one? Join the

© Copyright 2014 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.