Operations in public sector banks came to a grinding halt across the State, with bank employees going on an one-day strike under aegis of the United Forum of Bank Unions (UFBU), an umbrella organisation of various employees’ and officers unions, on Tuesday over the delay in implementing wage revision.
In Guntur, the bankers took out a rally from State Bank of India, Pattabhipuram branch office. Pensioners and other customers were put to hardship with over 400 PSU bank branches downing shutters in Ongole. Financial transactions worth Rs. 1,500 crore could not be carried out in Prakasam district with the Clearing House here shutting shop.
Over 250 branches of various public sector banks remained closed in Srikakulam as the employees participated in the strike. They raised slogans against government with flags and banners.
In Vijayawada, the employees staged a protest in front of the SBI NRI branch. They raised slogans against the Indian Banks’ Association and Central government for the delay in the implementation of the wage revision.
The UFBU which had initially placed a demand for a 25 per cent pay hike stating that public sector banks had made a net profit of Rs.37,000 crore during 2013-2014 fiscal later reduced its demand to 23 per cent. The Indian Banks Association, however, has struck to its stand and asked the bank unions to scale down the pay hike to 11 per cent saying that banks had suffered huge losses.
The unions contended that the banks could register 4.82 lakh trade profit in last few years with expansion of banking activities across the country. Each employee used to register Rs. 5.21 crore business in 2007 and it had gone up to Rs.12.13 crore, indicating the robust business of all public sector banks in the country.
The government and IBA, however, argue that there was a downward trend in profitability of banks. The argument was far from reality as the banks’ operating profits have been increasing. The NPAs were increasing due to wilful default of bank loans by corporate and industrial houses. The bank employees and officers should not be held responsible for it. In fact, only 12 per cent of the total establishment expenditure was being spent towards salaries of the officers and award staff, the protesters said.
In Anantapur, the strike was complete with all banks remained shut for the day, although ATM centres continued to operate for a part of the day before they went dry of cash even as people struggled to cope with the situation. Several parts of the districts witnessed rallies by the bank employees demanding that their demands be implemented forthwith.
