Bank unions called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA). The bank employees have chosen these dates, which also mark the day the Economic Survey is presented, and the day the Union Budget will be presented.

"From April 1, we have decided to go on an indefinite strike," UFBU state convenor Siddartha Khan said UFBU is seeking at least a 15-per cent hike, but the IBA has capped the raise at 12.25 per cent, he said , which was not acceptable. The last wage revision meeting was held on January 13

All India Bank Employees Association demands

They want wage revision settlement at a 20% hike on pay slip components with adequate loading thereof.

Other demands include:

Five-day banking
Merger of special allowance with Basic Pay
Scrapping the new pension scheme and updation of pension
Improvement in family pension
Allocation of the Staff Welfare Fund based on the bank’s operating profits
Exemption from Income Tax on retiral benefits without ceiling
Uniform definition of what business hours, lunch hours, etc would be in bank branches
Introduction of a Leave Bank along with defined working hours for officers

Apart from the two-day strike, The United Forum of Bank Unions (UFBU), which represents nine trade unions, said they will also hold a three-day strike from March 11-13.

This is the second major strike by bank employee unions after they went on strike on January 8, 2020 during the Bharat Bandh.

Also Read: Bharat Bandh Peaceful In Telangana, Only Banking Services Hit