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Banking Services To Be Hit On Oct 22 As Unions Plan Strike

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After days of the announcement of a proposed PSU bank merger, two bank unions have yet again threatened to observe a day-long strike on October 22. Notably, the impact shall not be seen across banks as these unions comprise staff from some of the banking majors as is the case with SBI that has only a few of its employees' part of these 2 bank unions. "The membership of our bank employees in unions participating in the strike is very few, so the impact of the strike on bank's operation will be minimal," SBI said in a notice to stock exchanges.

Banking Services To Be Hit On Oct 22 As Unions Plan Strike
 

On the contrary, BOB has already warned of its operations being affected. "In the event, the strike materializes, the functioning of the branches/offices may be affected/paralyzed," BOB said.

The strike has been contemplated by All India Bank Employees' Association (AIBEA) and Bank Employees Federation of India (BEFI) between 6 am on October 22 to 6 am on October 23.

Other than the merger proposal, the strike shall be observed to protest against the menace of NPAs grappling the banking industry as well as the problem of employment wherein the unions demand job security.

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