Banking operations across the country will take a hit on November 12, following a strike call given by the All India Bank Employees’ Association demanding early wage revision.
The decision was taken after a conciliation meeting in New Delhi on Wednesday night failed as the offer made by the Indian Banks’ Association (IBA) did not provide a substantial improvement, AIBEA general secretary C.H. Venkatachalam said.
After hearing both sides, Chief Labour Commissioner P.P. Mitra asked the IBA and the United Forum of Bank Unions (UFBU) to reach an amicable settlement. He advised the IBA to talk to the union to find ways to avert the strike.
He adjourned the conciliation meeting to November 10.
Mr. Venkatachalam said the IBA argued that it was unable to accept the UFBU demands because of the falling profitability of banks. It wanted the union to defer the strike so that the negotiations could be continued.
