Talks to avert Friday's bank strike fail | india | Hindustan Times
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Talks to avert Friday's bank strike fail

india Updated: Oct 26, 2006 19:58 IST
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Last ditch efforts to persuade bank unions to withdraw their strike plan for Friday failed on Thursday over the choice of official for holding talks with union representatives.

"The strike called for tomorrow stands as the talks held today by Chief Labour Commissioner with United Forum of Bank Unions (UFBU) and Indian Banks Association (IBA) has failed," UFBU Convenor VK Gupta said in New Delhi.

He criticised the IBA for sending the association's secretary, a junior official with little powers, for the talks in the national Capital.

The management did not respond to our demands, he said and claimed that 10 lakh employees will boycott work on Friday.

Banking services are likely to be hit hard as the UFBU, an umbrella of nine unions, will strike work to oppose outsourcing, privatisation and the proposed increase in voting rights of foreign investors in private banks.

This is the second conciliation meeting held in the last 8-days, as the October 18 meeting by Chief Labour Commissioner with the UFBU and IBA, too had failed.

UFBU has blamed the casual approach of the government and IBA for the failure of the meeting, in which it had also demanded fresh recruitments, restoration of compassionate appointments and one more option to join the pension scheme.

The strike is likely to impact public sector banks, who dominate the banking space, with employees of State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank proposing to join the strike.

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