Bank Strike Today: 10 lakh banking staffers to stop work on Jan 31, Feb 1 - Feb 3 is Sunday

ZeeBiz WebTeam | Jan 31, 2020, 04:11 PM IST

Bank Strike Today: From 31st January to 1st February 2020, banking services and the bulk of bank operations would be at standstill as around 10 lakh banking staffers in government banks are going on nation-wide bank strike. They are going off-work demanding revision in their wages — a demand that has been hitting the headlines for the last two years. In a press statement issued by the Indian Banks Association (IBA), the meeting on 30th January 2020 between the IBA Negotiating Committee and the United Forum of Bank Unions for the Wage Revision of Bank employees failed to reach any conclusion.

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Bank strike in Jan 2020

Bank strike in Jan 2020


Ironically, the Bank Strike in Jan 2020 is taking place on the day when Budget Session of the Parliament will begin and the Economic Survey will be presented immediately after the President Ram Nath Kovind will address the joint parliamentary session. This all-India bank strike will continue on the next day when the Union Budget will be presented. (Photo: Reuters)

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Bank Strike Today

Bank Strike Today

The bank strike will be spearheaded by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions in the banking sector. The UFBU had earlier announced that after January 31 and February 1 strikes, there will be a three-day strike, starting March 11, and an indefinite strike from April 1 to highlight their demands. (Photo: IANS)

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Calling the bank strike unfortunate CH Venkatachalam, General Secretary, AIBEA said, "The talks with Indian Banks` Association (IBA) have failed. So the two day strike on January 31 and February 1 stands." According to CH Venkatachalam, the majority of the 80,000 bank branches will remain closed on the two days. (Photo: PTI)

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IBA on Bank Strike Today

IBA on Bank Strike Today

"Multiple rounds of discussions have been held between the IBA Negotiating Committee and the United Forum of Bank Unions for the Wage Revision of Bank employees. In the meeting held on 30th January 2020, despite the revised offer of up to 19% hike including performance-linked incentive made from IBA side, the Unions have unfortunately decided to go ahead with an all-India Bank strike on 31st January & 1st February 2020, to be followed by other agitational programs," the IBA press statement said. (Photo: Reuters)

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Bank strike in Jan 2020

Bank strike in Jan 2020

What is noteworthy is that the banks will be closed on Sunday too which is February 2nd and that means banking services will be closed for bank account holders for three days. (Photo: Reuters)