Mumbai, December 21: All India Bank Officers Confederation (AIBOC) has called for a strike today, demanding immediate wage revision. The union is also opposing the merger of the state-owned banks. "We have demanded wage revision based on the minimum wages formula without linking to profits or paying capacity," said AIBOC joint general secretary Ravinder Gupta. Meanwhile, members of the United Forum of Bank Unions (UFBU), the umbrella unit for nine bank associations including AIBOC, have announced to go on strike on December 26. It has asked its members not to report at work on December 26 to protest against the merger of Bank of Baroda, Dena Bank and Vijaya Bank.

According to UFBU, the merger will eventually lead to a decline in job opportunities, youth unemployment, lack of systematic job profiles with huge pendency of disparate work processes among merged banks and entities and a huge NPAs. However, Customers having accounts in private sector banks will not be affected by the strike as these banks would continue their usual business as they are not part of the strike. Bank Holidays in December 2018: Strike on 21st followed by Christmas Vacation to Affect ATMs For 5-Days Ahead of 2019 New Year, Keep Cash Handy

The strike call is a fallout of failed negotiations between the confederation and the Indian Banks’ Association (IBA). The demands of AIBOC include a full mandate for scale I to scale VII officers, the introduction of a five-day work week, salary revision according to the charter of demands and a defined benefit pension payment scheme, unlike the NPS. It also rejected the IBA’s offer to discuss the issue of wage revision of officers up to scale III with the Officers Associations. The UFBU has also demanded a hike of more than 8 per cent which was proposed by the IBA.

Meanwhile, bank customers have to face inconvenience as banks across the country will be shut for five days between December 21 and 26 due to strike for two days and Christmas holiday. Ahead of the New Year 2019, ATMs may also run out of cash. Banks will be closed on December 22 which is the fourth Saturday of the month, December 23, which is Sunday, and December 25 - a national holiday for Christmas. People will be able to visit bank branches on December 24.

(The above story first appeared on LatestLY on Dec 21, 2018 09:56 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).