Bank Unions postpone 4 day strike on assurance of IBA on wage settlement

The four-day bank strike of employees from nationalised banks has been postponed following talks between unions and IBA

PSU bank employees' unions have put on hold the proposed four-day strike from January 21 after Indian Banks' Association (IBA) assured that wage related issues will be resolved by early February 2015.

But If there is no satisfactory outcome fresh dates for four to five days strike action in February would be announced, says union spokesman. The unions had deferred one-day strike scheduled for January 7 as IBA improved the wage hike offer to 12.5 percent from 11 percent earlier.

The wage revision of public sector bank employees has been due since November 2012. The unions are demanding a wage hike of 19 percent.

In December 2014, the bank employees' unions had gone on four-day rotational strike to press for their demand.

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country. The UFBU is the umbrella organisation of nine bank employees and officer unions while IBA is association of public and private banks.

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