Proposed bank strike: Gujarat High Court issues notice to RBI

By: |
Published: January 28, 2020 9:38 PM

The federations have prayed to the court to direct the RBI to not allow banks to go on strike and also take strict action against employees for frequently going on strikes for their own financial benefits.

The division bench of Chief Justice Vikram Nath and Justice AJ Shastri issued notice to the RBI, returnable on January 30.The division bench of Chief Justice Vikram Nath and Justice AJ Shastri issued notice to the RBI, returnable on January 30.

The Gujarat High Court on Tuesday issued notice to Reserve Bank of India on a PIL filed by eight trade federations in the state seeking the court’s direction to the central bank to not allow unions to go on strike. Bank unions may go on a two-day nationwide strike on January 31 and February 1, followed by a three-day strike from March 11-13, and indefinite strike from April 1, mainly over their demand for wage revision. The division bench of Chief Justice Vikram Nath and Justice AJ Shastri issued notice to the RBI, returnable on January 30.

The federations have prayed to the court to direct the RBI to not allow banks to go on strike and also take strict action against employees for frequently going on strikes for their own financial benefits.

The PIL said such strikes by bank unions are illegal and are meant only for their own financial benefits at the cost of the public who have to suffer harassment and financial loss. The bank employees associations are going on strike over issues like salary, leaves, and other benefits, which can be achieved as per the provisions of law and not by declaring strikes, the PIL claimed.

The PIL claimed the strike would cause a loss of Rs 12,700 crore per day. The PIL has been filed by Gujarat Traders Federation, Rajkot Chamber of Commerce and Industry, Central Gujarat Chamber of Commerce and Industry, Ahmedabad Auto Parts Association among others.

The strike call has been given by United Forum of Bank Unions (UFBU), an umbrella body of the nine unions, including All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW).

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Moody’s upgrades Yes Bank by a notch following capital raising; outlook stable
2ECLGS: Banks sanction Rs 1.36 lakh crore under emergency credit scheme, says CARE Ratings
3UPI transactions hit an all-time high of 149 crore in July