Banking services were paralysed in Mysuru region as the two-day strike called by various bank unions, began on Friday. This is part of a nationwide strike called by the United Forum of Bank Unions to protest the delay in wage revision settlement for bank employees and officers due from November 2017 and five-day work week, among others.
H. Balakrishna, Convener, UFBU, Mysuru, said the wages and service conditions of bank employees and officers are governed by collective bargaining and bilateral agreements and are revised once in 5 years. The last settlement covered the period from November 2012 to October 2017 and hence a revised settlement with effect from November 2017, was pending.
Justifying their demand for a pay hike, the UFBU said the prices and cost of living had increased while the work load had increased enormously. Though a representation was made by the bank unions to the Indian Bank Association, it offered only a 2% hike against a demand for a 20% hike.
The UFBU which comprises nine bank unions, has chalked out an agitation programme apart from two-day strike on January 31 and February 1. It has also called for a three-day strike on March 11, 12 and 13 and an indefinite strike from April 1 2020.
The other demands include five-day banking, merger of special allowances with basic pay, updation of pension, improvement in family pension, exemption from income tax on retrial benefits without ceiling, defined working hours for officers, equal wage for equal work for contract employees and business correspondents, etc.
Though daily withdrawals were not affected as ATMs were replenished with cash ahead of the strike, it is expected to run out by Saturday or Sunday. However, private banks have not participated in the strike.
Earlier in the day, about 1,500 bank employees assembled in front of the State Bank of India zonal office near T.K. Layout and took out a procession raising slogans in support of their demands. The agitating employees will assemble in front of the Regional Office of the Corporation Bank next to hotel Southern Star and take out a procession at 10 a.m. on Saturday.
Strike criticised
However, the business establishments and those in trade have flayed the frequent strikes being resorted to by the bank employees. Sudhakar S. Shetty, former President of the Federation of Karnataka Chamber of Commerce and Industry (FKCCI) has written to the Reserve Bank of India Governor highlighting the debilitating impact of such frequent strikes being resorted to by the bank employees.
He said it cripples small and medium size businesses and effects the economy which was already reeling under duress. Hence he has appealed to the RBI and the government to bring the banking sector under the Essential Services Maintenance Act (ESMA), 1968, so as to avoid such strikes in future.
