The Silicon Review ^Asia

Many Banking servicesand even ATMs will be closed due to a nationwide bank strike. Banks will go on a two day strike as several bank employees’ unions have declared a nationwide strike. Banking services were recently hit on January 8 as the bank employees joined “Bharat Bandh”.

The parliamentary sessions of the Union Budget are beginning today and the Union Budget for 2020-2021 will be unveiled by the Finance Minister Nirmala Sitharaman on February 1. The United Forum of Bank Unions (UFBU) had called the strike because the UFBU is an umbrella body for nine bank unions including the All India Bank Officer’s Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organization of Bank Workers (NOBW),

Since November 2017, employees of public sector banks had been asking for a wage revision. The major demand wasthat the pay slip components be hiked by 20 percent with adequate loading. Other demands include scrapping of the new pension scheme, a 5-day work week, etc.

A 3-day bank strike from March 11 is set to follow the current strike. An indefinite All-India bank strike would commence from April 1, if the demands aren’t met.