1. Bank strike coming? 4 lakh staff not paid overtime during demonetisation; check out whopping amounts demanded

Bank strike coming? 4 lakh staff not paid overtime during demonetisation; check out whopping amounts demanded

Employees of government-run banks who worked in extended shifts for days, soon after PM Modi announced demonetisation of old currency notes, have threatened to launch a strike and take legal actions if their employers don't clear their overtime dues.

By: | New Delhi | Published: October 5, 2017 12:12 PM
Bank employees on demonetisation overtime dues, Bank employees on demonetisation, demonetisation overtime, AIBEA, AIBEA on demonetisation, bank employees, bank employees during demonetisation, Arun Jaitley, bank overtime dues, Narendra Modi, Narendra Modi on demonetisation An employee is likely to get overtime amount somewhere between Rs 100 to Rs 300 for every extra hour they have worked. (Image: IE)

Employees of government-run banks who worked in extended shifts for days soon after Prime Minister Narendra Modi announced the demonetisation of old currency notes on November 8 have threatened to launch a strike and take legal actions if their employers don’t clear their overtime dues. At various places, these bank employees had worked for around 14 hours in a day and also their leaves were cancelled to handle the note ban rush in the banks. According to a report by Hindustan Times, there are as many as 4 lakh bank employees who put in extra hours and are yet to get additional pay and overtime.

As per banking norms, an employee is likely to get overtime amount somewhere between Rs 100 to Rs 300 for every extra hour they have worked. Speaking to Hindustan Times, CH Venkatachalam, General Secretary of All India Banks’ Employees Association (AIBEA) said that the issue has been taken up with the Central government and if they might go on a strike or take legal actions if the issue does not gets resolved on a priority basis. Venkatachalam also stated that none of the banks have cleared the overtime dues of their staffers.

He also said that it is a long-standing pact between bank employees and employers that there would be extra pay for extra hours. The report also stated that the issue was brought to the notice of finance minister Arun Jaitley and is likely to be discussed in the next meeting with the labour ministry. “We are yet to understand why banks are not paying the overtime dues to employees who are eligible for overtime dues… this pulls down the morale of the employees,” another Union member told HT.

The Narendra Modi government’s decision to ban old Rs 500 and Rs 1000 notes wiped out 86 per cent of the currency in circulation which caused a nationwide rush as lakhs of people gathered up in the banks to get their scrapped currency exchanged for legal tender.

  1. Vivek Nair
    Oct 5, 2017 at 4:06 pm
    First, we need to check if any money was changed (during demonetization) without proper identification. There are only 2 ways, the entire money would have come back into the system. One, the money ders might have added the money to their own account rather than taking all of it as a loss. This is good as they can be tracked and questioned about the source of such an income and taxed accordingly. Second, the bank employees might have played along with the money ders and exchanged money for premium. If the money coming in cannot be associated with proper iden y, then these bank employees should be questioned. Just like tax refunds, we can pay these bank employees OTs after a thorough investigation on the money recovered in the Demonetization exercise.
    Reply
    1. B
      Balachnadra B
      Oct 5, 2017 at 1:09 pm
      Wish that public sector banks go on strike again and again, so that the public get frustrated with them and shift their accounts to Pvt banks. High time PSU bank employees realize that they cannot blackmail the govt and people of India. They are the sole reason why the economy is suffering. There should be large scale divestment in PSU banks govt should not recapitalize these banks and waste tax payers money, which can be more usefully deployed for schools, hospitals and other infrastructure spend.
      Reply
      1. Vivek Nair
        Oct 5, 2017 at 3:41 pm
        Solution to all our woes, right there in your comment. Cannot agree more.
        Reply
        1. F
          Fukkkers
          Oct 5, 2017 at 4:38 pm
          Your talking man..PSU bank employees suffer a lot..we have to work with no time schedule..plus npa recovery and selling govt insurance and many more..n u think datvthey destroy d economy.. U ignorant fool..u urself are putting money in private banks which in turn loss the economy as it is mostly funded for outside purpose..do Ur homework not to make silly comments
          Reply
          1. M
            mighty
            Oct 5, 2017 at 10:07 pm
            Rightly said
            1. T
              TheTruth
              Oct 6, 2017 at 4:52 pm
              We all know how lazy this PSU Bank employees are. Always running away from work and totally ignorant about something called 'customer service'. They think the bank belongs to their father and treat customers poorly. There is no need to pay anything extra to these scums and if they go on strike, kick their asses and throw them out of the organisation.

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