Tag: united forum of bank unions

Bank unions call for two-day nationwide bank strike on Dec 16-17

Banking & Finance

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The United Forum of Bank Unions (UFBU) has given a two-day nationwide strike call for banks on December 16-17 in opposition to the proposed privatisation of two public sector banks (PSBs).

“We have served Strike notice to both the IBA and the government,” CH Venkatachalam, General Secretary of All India Bank Employees Association (AIBEA) told BusinessLine.

The government is widely expected to introduce a Bill — the Banking Laws (amendment) Bill — in the Parliament’s ongoing winter session to pave the way for the privatisation of two public sector banks.

This Bill is yet to officially get Cabinet approval but sources say that this may have been discussed at today’s Cabinet meeting.

Also see: Just debate: Opposition needs to re-establish House scrutiny by debating laws, and not disrupting proceedings

UFBU, a representative body of nine bank unions, has been opposed to government’s privatisation attempts. In February this year — soon after the government announced in the Budget that two banks will be privatised — the UFBU gave a strike call for March 15–16, a success going by the expanded participation of bank employees and officers.

The UFBU, which met on November 29-30, has decided to unleash agitations including dharna in all State capitals up to December 4.

“On the day of the introduction of the Bill, there will be a demonstration/morcha before the Parliament,” said Venkatachalam. A Twitter campaign is planned for December 10. UFBU also plans to submit an online petition to the Prime Minister on December 14.

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Finance ministry advises PSU banks to hold promotions, transfers, BFSI News, ET BFSI

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The annual promotions and transfers at banks that kick off in April will have to wait.

Due to the Covid pandemic, the finance ministry has asked public sector banks (PSBs) to consider postponing the annual exercise of promoting and transferring their employees.

The Department of Financial Services (DFS) in an advisory has asked all public sector financial intermediaries to take cognisance of the prevailing Covid-19 pandemic situation and take appropriate steps to ensure that the promotion process factors in the constraints likely to be faced by their officers and staff.

Rising hospitalisations

It said the promotion process has coincided with a spike in Covid-19 cases across the country along with localised lockdowns and an increase in micro-containment zones. As there are cases of bank employees or their family members being hospitalised due to Covid-19, bank, insurance companies and financial institutions must take cognizance of the issue, it said.

Promotions and transfers take place in the summer months just before schools open for the new academic session.

The situation was similar last year too, and the staff transferred joined new positions only after the Covid situation eased. While banks have completed the promotion process, they have kept transfers on hold.

Unions want restrictions

With Cpvid cases surging across the country, bank unions have requested industry body IBA for restriction in services and reduction in public dealing time to around 3 hours per day till the situation improves to protect bank employees from the coronavirus infection.

The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, in a representation to Indian Banks’ Association (IBA) said branches with continued footfalls and across-the-counter connect with customers are potential hubs of infections. ‘We are deeply distressed to constantly receive news about infections, hospitalizations and deaths of bank employees round the clock every day,’ it said.

In the light of the grim situation, this is an urgent appeal on behalf of the entire banking fraternity to take up the issue immediately, it said.

The unions have demanded the restriction of services only to basic, essential banking till improvement of the situation and realignment of banking hours to 3-4 hours a day.

Cluster banking

UFBU also made a case for the introduction of cluster or hub banking, identifying few branches of each bank in each locality so as to enable bank employees to work on rotation.

‘We are sure that the above measures will reduce the exposure faced by employees and break the chain of infections to a great extent.

‘We are continuously getting information from the grass-root level about the non-availability of beds/ infrastructure in hospital, dearth of life-saving drugs, oxygen which has triggered panic across the nation,’ it said.



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Bank union strike severely disrupts banking services across the country, BFSI News, ET BFSI

Banking & Finance

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The two-day strike by some 10 lakh bank employees, mostly from the public sector space, has severely disrupted banking services across the country, bank union leaders said. About 85 lakh cheques and other bank instruments were not cleared by bank branches in Mumbai alone on the first day of the strike as half a lakh bank employees joined the protest against the government move to privatise banks.

Almost all of the 8300 bank branches in West Bengal barring a few exceptions remained closed for the two days while about 90% of nearly 11,000 ATMs did not open their shutters, said Rajen Nagar, president of All India Bank Employees Association. United Forum of Bank Unions (UFBU), the umbrella organisation of nine bank unions, had called the strike.

UFBU said that instead of strengthening public sector banking, the present policies are aimed to weaken them, by starving them of the required capital, human resources, through disinvestment and proposed privatization.

“We demand strengthening of public sector banks, by adequate infusion of capital, human resources and strengthened statutory framework to recover the stressed assets,” UFBU’s West Bengal unit convenor Goutam Neogy said. Operating profit of all public sector banks grew 16.4% at Rs 174336 crore in fiscal 2019-20 despite an economic downturn showing the strength of these lenders. Their net profit however dwindled as the lenders had been required to provide aggressively against high non-performing assets.

The government had injected Rs 80,000 crore in 2017-18, Rs 1.06 lakh crore in 2018-19 and Rs 65,443 crore in 2019-20 in the banks it owns. The government has also budgeted to infuse another Rs 20,000 crore in weaker public sector banks, despite strains on government’s own finances.

“It’s not possible for the government to infuse capital every year while the capital is largely being used to cover bad loans. Therefore, new ways of raising capital is being looked at,” a senior banker said. The overall capital adequacy ratio for scheduled commercial banks stood at 14.8% as of March 2020, compared with 14.3% in March 2019. Capital adequacy for PSBs had improved 13% from 12.2% over the same period.



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Bank employees strike on March 15, 16

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Banking operations could grind to a halt in public sector banks (PSBs), old generation private sector banks and regional rural banks across the country on March 15 and March 16.

About 10 lakh employees of these banks are expected to participate in a strike to protest the Government’s decision to privatise two PSBs.

The two-day strike has been called by the United Forum of Bank Unions (UFBU), the umbrella body of nine bank unions.

With the strike coming on the heels of a two-day (weekend) bank holiday, ATM operations too could be impacted as bank branches supplying cash to cash logistics companies may not function. This may affect the replenishment of cash in ATMs.

“Public Sector Banks are nation building instruments. They have to be preserved, protected and promoted,” four officers’ unions, which are constituents of UFBU, said in a recent joint statement.

CH Venkatachalam, General Secretary, All India Bank Employees’ Association, observed that privatisation of PSBs is a negative step in a developing economy like India.

“PSBs protect the hard-earned savings of the people. Privatisation of banks would risk their savings as many private banks in the past have collapsed and people lost their savings.

“Private banks’ only aim to earn more profits. Service charges are more in private banks and the public will be affected. Rural branches may be closed in the name of non-viability,” he said.

Sanjay A Manjrekar, Adviser, All India Nationalised Bank Officers’ Federation, said, “If PSBs are privatised, will the new promoter/ management make good any shortfall in pension? They will not. So, the issue of serving as well as retired employees is involved in this.”

Referring to the public perception that privatisation of PSBs is only going to affect Bank employees, Nilesh Pawar, State Secretary (Maharashtra), All India Bank Officers’ Confederation, emphasised that customers too will be affected as banking services may become unaffordable.

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Bank employee’s strike may impact SBI’s operations, BFSI News, ET BFSI

Banking & Finance

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State Bank of India, country’s largest lender said in its exchange filing, “We has been advised by Indian Banks Association (lBA) that United Forum of Bank Unions (UFBU) which comprises 9 major Unions, has given a call for all lndia strike by Bank Employees on 15th & 16th March, 2021.”

“While Bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our Bank may be impacted by the strike.” the lender said in the exchange notification.

The strike is against the Centre’s proposal to privatise two public sector banks.

United Forum of Bank Unions(UFBU) board includes All lndia Bank Employees’Association (AIBEA), All lndia Bank Officers‘ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All lndia Bank Officers’ Association (AIBOA), Bank Employees Federation of lndia (BEFI), lndian National Bank Employees Federation (INBEF), lndian National Bank Officers’ Congress (INBOC), National Organisation of Bank Workers (NOBW) & National Organisation of Bank Officers (NOBO).



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Canara Bank, BFSI News, ET BFSI

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Public sector lender Canara Bank on Thursday said that banking services may get affected later this month due to the proposed strike by several bank unions.

“We have been informed by the Indian Banks’ Association (IBA) that the United Forum of Bank Unions (UFBU) has given a call for strike in the banking industry on March 15 and March 16, for issues relating to industry level and not for any bank-level issues,” Canara Bank said in a regulatory filing.

Canara Bank said it is taking necessary steps for smooth functioning of bank branches and offices on the days of the proposed strike.

“However, in the event of strike materialising, the functioning of the branches/offices may be impacted,” said the lender.

A host of bank unions have given a call for strike on March 15-16.

AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, IBOC, NOBW, NOBO and AINBOF are the bank unions that have given a call for strike against the proposed privatization of two state-owned lenders by the government.



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