Banking services hit in Telangana

Hyderabad, Jan 31: Banking services in Telangana were affected as the bank employees took part in the two-day nationwide strike which began on Friday.

The employees went on strike demanding among other things, wage revision following the failure of talks between the Indian Banks Association (IBA) and the United Forum of Bank Unions, (UFBU), an umbrella organisation of major bank unions.

In the state capital, striking employees staged demonstrations in front of several bank branches as part of the strike called by the UFBU, pressing for their demands.

Union leaders claimed that banking services including cash transactions, cheque clearance and ATM facilities were affected as a majority of employees stayed away from work.

Venkatachalam said in the Clearing Grids in Mumbai, Chennai and Delhi, about 31 lakh cheques worth about Rs. 23,000 crore could not be cleared due to the strike.

The top union leader said Wage revision Settlement in Banks is due from November 2017 because the last settlement ended in October 2017. Even though discussions are going on for the past 30 months, the bank managements and Indian Banks Association (IBA) did not come forward to settle the demands with a reasonable increase in salary looking to inflation and heavy workload on the employees.

The Unions are demanding Wage Revision Settlement at 20% hike on Pay slip components with adequate loading thereof, five-day Banking, Merger of Special Allowance with Basic Pay, Scrap New Pension Scheme (NPS), Updation of Pension, Improvement in Family Pension, Allocation to Staff Welfare Fund based on Operating Profits, Exemption from Income Tax on retiral benefits without ceiling, Uniform definition of Business Hours, Lunch Hour, etc. in Branches, Introduction of Leave Bank, Defined working hours for Officers and Equal wage for equal work for contract employees/Business Correspondents.

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