Banks Strike on July 28

The All India Bank Officers Association (AIBOA), All India Bank Employees Association (AIBEA) and The Bank Employees Federation of India (BEFI), in reply to the circular issued by the Reserve Bank of India regarding outsourcing of the banking services, particularly cheque clearing operations, have jointly called for a nationwide strike on the July 28.

Other main demands of these two associations include the amendment of Section 12(2) of the Banking Regulation Act which restricts the ceiling limit on voting rights of investors to 10% and not the actual investor stake, if it’s larger than that. The employees are also demanding one more option for pension along with recruitments for over one lakh vacant posts across various banks in country.

Public sector bank employees will observe a one day strike on July 28. Nearly 1.3 million people employed in various banks and insurance companies across the country are expected to join the strike.

However, State Bank of India (SBI) and its associates, Bank of Baroda (BoB) and Indian Overseas Bank (IOB) have decided not to participate in the strike and will remain operational.