Public sector bank unions threaten to go on strike

Not satisfied over the 2% wage hike offered by the Indian Banks’ Association, which represents bank managements, the public sector bank employees on Friday reportedly threatened to go on a nationwide strike on May 30 and 31. The association's representatives made the offer of a 2% wage hike during negotiations on May 5, the United Forum of Bank Unions reportedly said.

Ravinder Gupta, All India Bank Officers’ Confederation Joint General Secretary, was quoted as saying, “When prices go up unabated, can wages be depressed?... Is it fair to deny reasonable wage increase?” Reportedly, the Indian Banks’ Association had granted a 15% wage hike during the last revision.