Banks to go on strike on Tuesday, services may be affected

Banks threaten to go on strike on Tuesday,services may be hit. photo:twitter

New Delhi/August 21: The United Forum of Banks Union (UFBU) has announced to go on strike against the government’s proposed consolidation moves, besides raising a host of other demands.

Bank services at Public sector will be affected by the strike on Tuesday. According to reports, most of the banks have already informed their customers that the functioning of their branches and offices would go firmly together if the strike takes off.

Some of the private banks like ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank, are expected to function normally, except the delay in cheque clearances.

The AIBOC General Secretary D T Franco said, “As the conciliation talk before the chief labour commissioner was failed, the unions are left with no other option but to go on strike. There was no assurance from the government and the management of banks,”

The UFBU decided to proceed with the proposed strike on 22 August as the attempt to hammer out a solution to the demand raised by the union bore no fruit. Meanwhile, other demands include no write-off policy for non-performing assets for corporate loans.

AIBEA General Secretary C H Venkatachalam stated, to declare that the wilful default of loans as criminal offence and implementation of recommendations of the parliamentary committee on behalf of the NPAs.

Venkatachalam, also stated that the government should abolish the bank board bureau and ensure stringent measures to recover the outstanding loans and accountability of top executives.