Several banks, even ATMs, throughout India could be closed down for a couple of days, as bank employee unions decide to hold a 2-day strike demanding a pay hike.

A group of nine unions, under the umbrella of the United Forum of Bank Unions (UFBU), are taking part in the strike scheduled for tomorrow, 31 January. The unions of bank employees, who have been waiting for a pay increase since November 2017, are demanding a 20% pay increase.

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Management is not willing to go beyond 12.25%.

Other demands include a 5-day work week, a merger of special allowance with basic pay, the scrapping of a new pension scheme, and more.

Unsuccessful plea

Officials of the Labour Department and Finance Ministry tried to intercede, pleading with the unions to call off the strike. But the plea was unsuccessful, as no amicable resolution could be found between Indian Banks’ Association (IBA) and representatives of the United Forum Bank Unions.

According to an official of the All India Bank Employees Association (AIBEA) the IBA wanted the unions to postpone the strike to pursue negotiations. The unions, however, refused as they saw “no commitment from bank management”.

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Several banks have already alerted their customers that services could be impacted for two days from tomorrow.

The unions seem resolve the continue the strikes if management doesn’t budge. On the strike calendar is a 3-day strike already scheduled from 11 March. Another All India Bank strike, “indefinite,” is planned for 1 April if management doesn’t come through.