Bank strike: Rs 15,000 cr transactions may be derailed in Gujarat

Banking operations in Ahmedabad and across the country are likely to come to a grinding halt as nearly 60,000 bank employees are expected to go on a two-day strike from Wednesday. Sources say transactions worth Rs 15,000 crore could get derailed in Gujarat alone.

The decision comes following failed negotiations between United Forum of Banks Union (UFBU) and Indian Bank Association, Finance Ministry and Chief Labour Commissioner for bank employees' wage revision. Bank staff had conducted protests with regards to the same in Ahmedabad on Tuesday.

While the government and bank management have proposed a 2 per cent hike in wages for only a certain section of staff following high numbers of bad loans, Unions are demanding a 15 per cent rise in wage.

Unions argue that it is not the operating expenditure but the provision of bad loans that is incurring losses as banks are making profit through operations. They say it does not justify nominal and selective rise in wages.

A rally is expected to be held from Induchacha Garden near Nehrubridge Corner to Bank of Baroda along the Ashram Road, near Vallabh Sadan on Wednesday morning.

Janak Rawal, general secretary of Mahagujarat Bank Employees Association (MGBEA) has urged all the bank officials to join the strike to ensure early and adequate wage revision. He said that since it would be a massive strike, even the alternative banking channels could be affected.

BANK INSTITUTIONS

United Forum of Banks Union (UFBU) is an apex body of all unions of bank employees and officials in the country.
Indian Bank Association is a body representing bank management.

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