india

Updated: Jan 31, 2020 07:10 IST

The two-day nationwide bank strike called by the United Forum of Bank Unions (UFBU), demanding early wage revision settlement, will begin from Friday.

The early wage revision settlement has been due since November 1, 2017.

The bank employees unions on Thursday decided to go on with the strike after a meeting with the Indian Bank Association (IBA) remained inconclusive.

Around 10 lakh bank employees are expected to take part in the strike.

The two-day strike coincides with the Budget Session of the Parliament, which commences today. Union Finance Minister Nirmala Sitharaman will present her second Union Budget on Saturday.

Banks will also hold a strike on March 11, 12 and 13. Also, an indefinite strike will be held from April 1.

Services at several bank branches and ATMs could be affected due to the strike.

There are several demands to hold the strike including the merger of special allowance with basic pay, updation of pension, improvement in the family pension system, five-day banking, allocation of staff welfare fund based on operating profits and exemption from income tax on retiral benefits without a ceiling.