Bank Unions are set to go on a planned strike on December 18 as confirmed by the General Secretary of All India Bank Employees Association (AIBEA), C.H. Venkatachalam. The decision to this effect has come after talks with the Indian Banks Association (IBA) failed.

Reportedly, as many as 10 million employees of the banking sector across the country would go on strike to demand for early wage revision. Additionally, bank union not in favour of various banking sector reforms such as new banking licences proposed to be given to corporate entities; mergers; privatization; and increasing NPAs among others will demand for their discontinuation.

The revision in wage for the banking industry stands due from November, 2012. And, as Bank Union does not considers the reason cited by the IBA for the deferment in wage revision as agreeable, it has decided to observe a one day nation-wide strike on December 18, 2013. Bank union also threatened observance of an indefinite strike in case its demands are not accepted

As per The Business Line report, Chief Labour Commissioner has summoned representatives of the Bank Union and IBA for compromising talk over the matter in the national capital today.

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