Bank strike in India: AIBOA, AIBEA to go on strike on December 27; here is reason why

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New Delhi | November 24, 2017 8:00 PM

Bank strike in India: The All India Bank Officers'Association (AIBOA) and All India Bank Employees'Association (AIBEA) have announced a strike across India.

IDBI Bank. (Reuters)

Bank strike in India: The All India Bank Officers’Association (AIBOA) and All India Bank Employees’Association (AIBEA) have announced a strike across India. These are two of the biggest unions in the banking sectors and they have called a strike on December 27, demanding the implementation of the long overdue wage revision in IDBI Bank. The umbrella body of nine bank unions known as United Forum of Bank Unions has supported the strike call. AIBEA has been asking for a revision in wage for officers and employees of IDBI Bank, which is due for the period from November 1, 2012, to October 31, 2017. Meanwhile, all the other banks imposed the wage revision in May 2015 and have now started negotiations for the next wage revision which is due for November 2017. The like of Reserve Bank of India (RBI), Life Insurance Corporation, General Insurance Corporation, and Regional Rural Banks have also completed their wage revision.

AIBEA to discuss the issue held a joint central committee in Delhi and came to a decision for an all-India strike, as per Hindu Business Line report. The unions in their statement said that they have been approaching IDBI Bank management and central government with the matter but it is being dragged endlessly.

Interestingly, the IDBI Bank’s management has been blaming bad loans for the issue. The bank in its September quarter reported a loss of Rs 197.84 crore, which is its fourth consecutive quarterly loss. The last time IDBI reported the profit was Rs 55.52.

Earlier, in October, the associations went on a two-day strike to protest the inadequate response to the implementation of long overdue wage revision of IDBI Bank. The management had reportedly offered a hike of only 7-8 percent against a demand of 15 percent, on the lines of the industry-level 10th Bipartite Settlement.

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