The United Forum of Bank Unions (UBFU) has decided to launch a sustained programme of agitation. Representational image. | Photo Credit: PV SIVAKUMAR

The United Forum of Bank Unions (UFBU), the umbrella body of nine trade unions in the banking sector, is planning a series of strike actions, beginning January 31, against what it termed as the rigid approach of the Indian Banks' Association (IBA) to its demands for a fair wage revision settlement. The Forum also threatened to go on an indefinite strike from April 1 if their demands are not fulfilled.

Advertising Advertising

According to statement issued by All India Bank Employees Association (AIBEA), the UFBU has called for a strike on January 31 and February 1 (two days). This will be followed by a three-day strike (March 11, March 12 and March 13).

"Since the IBA adopted a very rigid approach in resolving our wage revision demands during the bipartite talks held on January 13, 2020, the UFBU met thereafter and decided to launch agitational programme and strike actions in order to highlight our demands," CH Venkatachalam, General Secretary, AIBEA, said in the statement

Among others, the Forum is demanding wage revision settlement at 20 per cent hike on pay slip components with adequate loading thereof; five-day banking; scrapping new pension scheme (NPS); updation of pension; exemption from income tax on retiral benefits without ceiling; introduction of leave bank; defined working hours for officers; and equal wage for equal work for contract employees/business correspondents.

As part of this, UFBU members will resort to work to rule from January 20; hold protest rallies culminating in submission of memorandum to the District Collector/Governor for onward transmission to the Prime Minister.