The members of the United Forum of Bank Unions (UFBU) began their two-day nationwide strike on Monday.
More than 100 members staged a demonstration in front of the main office of the State Bank of India in the city protesting against banking reforms and demanding immediate settlement of wage revision. Banking transactions were paralysed all over Madurai due to the strike.
M. Sundarajan, convenor of the UFBU, said the wage revision settlement was due since November 1, 2012. “The Indian Banks Association (IBA) has proposed a meagre 10 per cent increase in the wage revision settlement. The reason they cited for the proposal is that the banks did not earn profit, which is untrue. The public sector banks have earned a profit of around Rs.2 lakh crore in the last four years,” he said.
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According to Mr.Sundarajan, at least 3,000 employees and officers of various public sector, private sector and foreign banks are taking part in the strike.
An announcement with regard to reasonable wage increase and early settlement should be made by the IBA, the protestors demanded.
The UFBU is an umbrella organisation comprising nine bank employees’ and officers’ unions such as the AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC.
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On Tuesday, a demonstration will be staged in front of the Indian Bank branch at Tallakulam. Around 10 lakh bank employees and officers all over India are taking part in the nationwide strike.