Employees the nation-wide of the state owned banks have threatened to go on a nation-wide strike on June 12 to solidify their demands including the opportunity to opt for a Pension Scheme for the bank staff.

The news cropped up after a meeting between Employee Unions and the Indian Banks’ Association (IBA) in the presence of Chief Labour Commissioner. However, it failed to bring about any result, United Forum of Bank Unions (UFBU) convener C.H. Venkataraman told PTI.

He added, “We are going ahead with the strike. The IBA has put conditions for the negotiations which is not acceptable to the Unions.”

UFBU is an umbrella body of nine employee unions of the country and claims to have large membership in public, private and foreign banks.

In 1990’s, those who opted for the PF are now demanding another choice to choose pension including the other demand of compassionate appointment. Venkataraman said the bank management had not taken the required steps to solve the issues.

He said, “Two actuaries were appointed by IBA and UFBU had pegged the cost to implement another pension scheme at Rs. 17ooo crore, out of which Rs. 6000 crore need to be generated.”

sorry but I am from US.
state owned banks?
We just started that.
gosh golly - is there an actual roblem with pay and or where the loans go?
Duh.
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Strike by workers of essential services like bank should be banned.

now the issue has come to an end... They have accepted to raise 17.5% in the basic pay..