March to witness another Bank strike; Third to go in the year 2020

The All India Bank Employees' Association (AIBEA) and the Bank Employees Federation of India (BEFI) is all set for another strike from March 11-13, 2020. This will make it third strike by the bank union employees in the year 2020 alone.


The so-called three-day strike will impact the customers of public sector banks for six days between March 10 to 15, 2020. The strike is an attempt of the bank employees’ unions and associations to be heard when they seemingly failed to discuss the wage revision with the Indian Banks Association (IBA).


The typical revision of bank wages happens every five years. The last wage revision was settled at a hike of 15 percent for the period of November 1, 2012 to October 31, 2017.


Agendas behind the Bankers’ Strike


 The umbrella organisation of nine leading bank associations, United Forum of Bank Unions, is demanding a 20% wage hike. The said wage revision is due since November 2017.


• The employees of public sector banks in India believe that their basic pay is half in comparison to the Central Government employees.


• They are also demanding a five-day working week.


• The Bank unions are also raising the need for a new pension scheme along with other matters like the implementation of family pension etc. on the basis of operating profit.


However, this spree will not affect the services of private banks like ICICI Bank and HDFC Bank.


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