Under the plan, more than 6,000 banks in the 17-nation euro zone will be put under the single supervisory body, which will be led by the European Central Bank based in Frankfurt.
A letter containing the demands had been given to the authorities including Indian Banks Association on March 26, but no decision was taken, United Forum of Bank Unions convenor A C Joseph told media on Tuesday.
The unions -- AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEA, INBOC, NOBW and NOBO -- had on August 22 participated in a one-day token strike.
Bank unions on Thursday called for a nationwide strike on August 24 to protest the 'negative attitude' of the Indian Bank Association over employees' wage revision.
Banks all over the country will observe a day's strike on August 24 in protest against the delay in settlement of wage negotiations.
The Banking Laws Amendment Bill contains provisions such as raising of shareholders' voting rights from 10 per cent to 26 per cent in private banks and suppression of bank boards.
Demands include 5-day banking, PF to be calculated on total salary and allowances, not only on basic
The nationwide bank strike scheduled on October 5-6 has been called off after Indian Banks Association agreed for fresh negotiations with bank unions on wage revision and other demands.
'It seems to be a bit of an aberration. It should be set right; there is a proper mechanism in place. In the normal course, the state police do not have any jurisdiction on central government employees,' the official said.
Cheque clearances and cash withdrawals and deposits in public sector bank branches across the country were hit as employees started a two-day strike on Monday to press for a revision in wages.
Accusing the labour ministry of "playing hide and seek" with their demands, the bank unions on Tuesday threatened to go on an indefinite strike.\n\n\n\n
The United Forum of Bank Unions consisting of nine bank unions has threatened to go on a one-day strike on August 24 in support of their wage demand.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Operations in branches of public sector banks are affected and cheque clearance would be delayed.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
The anti-labour policies of the government will leave the employees in the lurch and take away all their safeguards, says V K Gupta, Delhi convenor of United Forum of Bank Unions.
Bank Nifty has recovered nearly 300 points at 10,968 from intra-day low of 10,669 touched in early morning deals.
The unions have called for a strike against proposed closure of associate banks and their merger with the State Bank of India
Bank employees body AIBEA, which is a major constituent of the United Forum of Bank Employees' Association that has called a nationwide strike, on Tuesday said Finance Minister P Chidambaram rejecting wage demands of bank employees is "unfortunate" and the strike was forced on them.
In December last year, the finance ministry had asked five state-run banks -- Punjab National Bank, Canara Bank, Union Bank of India, Bank of Baroda and Bank of India -- to explore merger opportunities in the banking industry.
"It is about time that India and its institutions are protected from these 'institution wreckers'," said Jaitley.
The country's largest public sector lender State Bank of India on Monday fixed its benchmark lending rate at 7.5 per cent following a Reserve Bank directive, a move that will end the practice of sub-prime loan to corporates.
Bank employees will get a lumpsum that should be used to meet financial goals.
The market breadth, indicating the overall health of the market, turned negative from positive
In all, 14 unions representing bank employees and officers will be supporting the day-long stir.
"I have no personal grudge against Ravinder Reddy, the rural bank manager. It was an unfortunate incident. The truth would come out later. However, I tender unconditional apology to him and bankers to put an end to this. I don't want to put the people to inconvenience due to the bank union's agitation," Jagannath told reporters in Delhi.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
C H Venkatachalam, convener, United Forum of Bank Unions, the umbrella body of the nine unions, said due to the failure of Thursday's talk between Indian Banks Association and UFBU before the chief labour commissioner, they have decided to go ahead with the strike. IBA is yet to resolve issues regarding wage revision and the pension option.
Rating agency Moody's has placed 13 Indian banks, including State Bank of India, ICICI Bank and Punjab National Bank, on watch for possible downgrade under a global review of systemic support available for the banking sector.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
Besides wage revision and compassionate appointment, the UFBU is also demanding provision of one more option for pension.
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,581 shares declined and 1,246 shares fell. A total of 165 shares were unchanged.
The National Stock Exchange (NSE) on Monday conducted the first round of mock electronic bidding process for implementing application supported by blocked amount (ASBA), an alternative mode of payment for initial public offerings (IPOs), proposed by capital markets regulator, Securities and Exchange Board of India (Sebi).
The specifics will also cover what's fit and proper to be a chest manager; the insurance and re-insurance aspects; and the new capital threshold, which is Rs 100 crore now.
The AISBOF wants bank employees' wage revision in parity with that of the Indian Administrative Services officers. Last month, the IBA had given an initial offer of 10 per cent wage hike, or a package which would cost the industry Rs 2,750 crore (Rs 27.5 billion), against Rs 2,220 crore (Rs 22.2 billion) in the eighth bipartite meeting between bank unions and IBA.
Banking operations were affected as the strike call given by the employees union to press for wage related issues entered the second day on Thursday.
The broader Nifty ended on top of 9,800 again.
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