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Banking services may be hit Oct 22 as unions warn of strike
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SME Times News Bureau | 19 Oct, 2019
Banking services could be affected next week as two bank unions have
warned they will go on a 24-hour long strike on October 22 to protest
against the recent bank mergers, falling deposit rates and a call for
job security.
The two unions - the All India Bank Employees'
Association (AIBEA) and the Bank Employees Federation of India (BEFI) -
have informed the Indian Banks' Association (IBA) through a notice that
they will go on strike from 6 a.m. on October 22 to 6 a.m. on October
23.
State Bank of India has already said the impact would be
minimum as most of its employees are not members of the participating
unions.
"The membership of our bank employees in unions
participating in the strike is very few, so the impact of strike on our
operation will be minimal," SBI said in the notice. It further said the
loss from the proposed strike cannot be quantified as of now.
Other banks such as Bank of Maharashtra and Syndicate Bank have, however, expressed concern over providing customer services.
"The
bank is taking necessary steps tor smooth functioning of branches on
the proposed strike day. However in the event the strike materialises,
the functioning of the branches/offices may be impacted," Syndicate Bank
said in a notice to stock exchanges.
Bank of Baroda, in a filing
with the exchanges, said: "The Bank is taking necessary steps for
smooth functioning of bank's branches on the day of strike, in the event
the strike materialises, the functioning of the branches may be
affected/paralysed."
AIBEA and BEFI said they are opposing
outsourcing of regular and perennial nature of banking jobs, and
privatisation of banking industry while demanding adequate recruitment
of clerical and sub-staff and stringent steps for recovery of mounting
bad loans.
Last month, the officers' unions had called a two-day
all India bank strike on September 26 and 27 that was later withdrawn on
government intervention.
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Customs Exchange Rates |
Currency |
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US Dollar
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75.65 |
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