News

United Forum of Bank Unions (UFBU) challenges the position taken up by the Indian Bankers Association’s (IBA) stating unaffordability of a decent wage increase due to the dip in net profits of Public Sector Banks.

M V Murali, Convener of the UFBU and the General Secretary of All India State Bank of India Staff Federation (AISBISF) said; despite of huge provisioning for bad loans the banks have recorded huge profit of Rupees 37,000 Crores for the year 2013-14 [ 3.7 Billion Indian Rupees] due to the contributions of employees. What unions are demanding is a reasonable increase; the banks wage bill not exceeds 750 Million Rupees.

Since the bipartite talks are inconclusive despite a lapse of around two years, at the call of UFBU, nearly One million bank employees of Public Sector Banks in India observed Nationwide one day bank strike on 12th November 2014 and the strike was a grand success; revealed Bro Murail .