Bank staff plan nationwide strike on Oct 27

There demands include a second option on pension scheme, stoppage of outsourcing of core functions and filling up of vacancies.

india Updated: Sep 09, 2006 20:31 IST

The country's 10 lakh bank employees, under the umbrella organisation of United Forum of Bank Unions (UFBU), will go on a nationwide token strike on October 27 against the "uncompromising" attitude of the Government and management towards their various concerns.

The agitational programme will commence with centralised demonstrations in state capitals on October 5 and a delegation of UFBU leaders would meet Indian Banks' Association (IBA) the same day, UFBU Convenor Prafulla Kumar Patnaik told newsmen in Bhubaneswar on Friday night.

This would be followed by dharna at all the state capitals on October 18.

The UFBU demands included introduction of second option on pension scheme, stopping of outsourcing core functions of banks and filling up of vacancies while it opposed merger and acquisition of public sector banks.

Patnaik, who recently took over the leadership of UFBU, said the forum had been demanding one more option for pension for those employees and officers who could not exercise their option earlier.

"Though the IBA refused to consider the demand for a long time, it agreed to discuss the alternatives with UFBU to resolve the issue", he said.

He said the declining interest rate on deposits was one of the major factors compelling the unions to demand for provident fund subscribersto switch over to pension in lieu of provident fund.

First Published: Sep 09, 2006 20:31 IST