New Delhi: The proposed two-day bank strike, called by four bank unions following the recent government announcement on amalgamation of 10 public sector banks into four, has been called off.
The decision was taken after members of the bank association on Monday met the Finance Secretary and were assured of a positive solution on their demands.
Two two-day strike, to be held on September 26 and September 27, and followed by two-day weekend, i.e. Saturday and Sunday, was called by banking unions– All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers' Congress (INBOC), National Organisation of Bank Officers (NOBO).
The banking unions have threatened to go on a strike following to protest against the merger. In a statement, the AIBOC said that the unions in the banking sector were opposed to the merger of banks. The officials asserted that the organization is protesting for the interest of the general public.
Among other demands, the unions are also seeking the immediate introduction of five-day a week in full and reduction of cash transaction hour and regulated working hours.
Finance Minister Nirmala Sitharaman had on August 30 announced that Punjab National Bank, Oriental Bank and United Bank will be merged to become the second-largest PSU Bank in India. Canara Bank and Syndicate Bank will be merged into one entity to be 4th largest PSB, while Union Bank of India, Andhra Bank and Corporation Bank will be amalgamated into a single entity to be the 5th largest PSB; and Indian Bank and Allahabad Bank will become one entity to be the 7th largest PSB.
The Finance Minister further said that the Bank of India and Central Bank of India would remain independent. After the amalgamation, only 12 PSBs will be left in India from the 27 earlier.