Banking operations are likely to be hit hard on Friday as three employees unions have called for a nationwide strike to oppose outsourcing of services, demand recruitment of staff and one more pension option.
The all India strike would be observed by employees of State Bank of Patiala, State Bank of Travancore, State Bank of Mysore, State Bank of Hyderabad, State Bank of Indore and State Bank of Bikaner and Jaipur.
Demanding that willful default to banks be made a criminal offence under the Securitisation Act, the Delhi unit of All India Bank Employees Association on Monday said the corporate sector owes Rs 13,500 crore (Rs 135 billion) to banks and financial i
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
'Let them put their house in order first.' 'Let the RBI first rectify themselves.'
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.
The unions -- AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEA, INBOC, NOBW and NOBO -- had on August 22 participated in a one-day token strike.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.
Banking operations will be hit for the second time this month on May 21 with employees owing allegiance to various unions going on strike to protest Centre's "anti-labour" policies.
All India Bank Employees Association general secretary and a leader of the bank union movement Tarakeswar Chakraborty died of a heart attack last night, family sources said.
Most of the buses run by Telangana State Road Transport Organisation are also off the roads
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.
Anticipating a sudden and huge crowd in bank branches following the announcement of various measures by the government on Friday, the AIBEA said since the number of employees in bank branches are very few, the crowds can pose a big risk for the bank staff as well as for the customers who might be visiting in large numbers.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
During the negotiations held on May 5, IBA made two unacceptable propositions including an offer of 2 per cent hike in the wage bill cost as on March 31, 2017
There were instances of 'rasta roko' at various places in rural Maharashtra
The unions opposed any move to force banks to lend more money to the airline, saying Naresh Goyal is still the promoter and major shareholder with 51 per cent stake and it is his headache to run the company or sell it to someone.
Customers will not be able to conduct transactions in banks for 4 days in a row as they will be closed from Thursday in many states.
As many as 8.5 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2017.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
The All India Bank Employees Association had called for a strike on June 24,
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
In all, 14 unions representing bank employees and officers will be supporting the day-long stir.
The unions have called for a strike against proposed closure of associate banks and their merger with the State Bank of India
AIBEA is part of United Forum of Bank Unions, the umbrella organisation of employee and officer unions of nine banks, which has given the call for one-day strike on January 7 and four days from January 21 in support of their wage hike demand pending since November 2012.
AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
This is the second all-India bank strike in as many months.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
Stalin, along with cadres of the DMK and other parties, came in a procession in Tiruvarur and was detained in a marriage hall, police said, adding they will be let off later.
So how is it going to affect the common citizen?
The association also wondered how the brand value of Kingfisher was considered as a collateral while sanctioning a loan, and alleged that even when RBI knew that this was a "deliberate default", no action was taken by the banks.
Normal banking operations like cheque clearance in public sector banks across the country are likely to be hit on Wednesday as employees have decided to go on one-day nation-wide strike to press for wage revision.
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
Banks have started organising silent demonstration in front of houses of defaulters.
United Bank of India and Andhra Bank employees start organising silent protests.
With almost all opposition parties too backing the 'Bharat bandh' and many announcing parallel protests in support of the farmers, the Centre has issued an advisory directing the states and Union Territories to tighten security and ensure peace is maintained.
At a time when the asset quality of state-owned banks is deteriorating, the Reserve Bank of India is also planning harsher penalties for wealthy promoters of wilful defaulters.
Banking services are likely to be affected for the next four days as employees of PSU banks plan to go on a zone-wise relay strike beginning with Southern region from Tuesday, after wage revision talks failed.
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