Announcing the decision to go on strike, United Forum of Bank Unions (UFBU) convener M V Murali added, "The conciliation meeting before the chief labour commissioner between the unions and Indian Banks Association (IBA) failed to find an amicable solution."
Ashwini Rana, general secretary of National Organisation of Bank Workers, said as the offer made by bank managements was not in line with rising inflation, the unions were compelled to stage protest. Staff of public sector banks had gone on a day's strike nationwide on December 18, as discussions with IBA on wage revision had failed on December 14.
The wage revision of public sector bank employees has been due since November 2012.
UFBU is an umbrella organisation of nine bank employees and officers unions. There are 27 public sector banks in the country with employees strength of about 800,000. There are about 50,000 branches of these banks across the country.