The State Bank of India (SBI) on Tuesday said that banking services at its branches “may be impacted” due to the upcoming two-day all-India bank strike called by the Union Forum of Bank Unions(UFBU) on January 30-31.
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While informing the stock exchanges about the development SBI said, “We have been advised by the Indian Banks’ Association (IBA) that United Forum of Bank Unions (UFBU) has served a notice of strike, informing that the members of the constituent Unions of UFBU viz. AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, and INBOC propose to go on a nationwide bank strike on 30th and 31st January, 2023 in support of their demands,”.
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While India’s largest public lender has made “necessary arrangements” to ensure the smooth running of work at its branches, SBI pointed out that it could be possible that the routine work in their branches may be impacted to a limited extent, by the strike.
We advise that while the bank has made necessary arrangements to ensure normal functioning in its branches and offices on the days of strike, it is likely that work in our bank may be impacted by the strike, in the event of the strike taking place,” SBI said in a regulatory filing.
UFBU, an umbrella body of several bank unions, earlier on January 15 decided to go on a two-day strike on January 30-31, demanding the government comply with their demands.
Why are bank unions going on a strike?
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UFBU decided to call for a strike to press for demands of the bank union which include banking work be done for 5 days. Bank unions are also seeking an update on the pension. Abolishment of the National Pension System (NPS). Immediate action on the negotiation of charter of demands for wage revision. To initiate the recruitment process in all the cadres and to deal with the residual issues
