Banks Might Get Closed For Five Days From December 21

Post demonetisation, banking in India faced no big problems in operating to their own standards, but seems like 2018 is going to bid a good...

Post demonetisation, banking in India faced no big problems in operating to their own standards, but seems like 2018 is going to bid a goodbye only after witnessing another problem in banking in India. As per sources, bank union is ready for all India bank strike on Decmeber 21 and December 26. The banks might get closed for 5 days from 21st December to 26th December, except on 24th December.

As per the All India Bank Officers Confederation (AIBOC), the strike is against Indian Banks' Associations' decision to leave officers in scale IV and above out of the bipartite wage settlement ambit. Except December 24, Monday -December 21 (Friday, strike), December 22 (fourth saturday), December 23 (Sunday), December 25 (Christmas), and all India bank strike on December 26 (Tuesday) make the banks closed for five days.

It is adviced to all the people to get their banking work done before 21st December or wait to get it done after 26th. These days, online banking might still be an option for people but looking at the rage of officials, nothing can surely be said. The demand might be a direct appeal to central government or might not, but considering the debth of the situation, central government should be and surely can interfere into the matter.

To quote inputs from Zee News, "The AIBOC, which announced 21st December strike on the issue of wage revision in 11th bipartite settlement, is demanding salary revision as per charter of demands, 5 days week banking, full mandate for officers up to Scale VII, stopping sales of third party products and scrapping of NPS."

The strike might also speak against the decision taken in September this year that resulted in the merge of Bank of Baroda, Dena Bank, and Vijaya Bank. The AIBOC has previously written a letter the Prime Minister in against of the decision to merge these banl=ks. The letter reads like, "In the issue of merger of Vijaya Bank with Bank of Baroda and Dena Bank we find this is pertinent to mention here for greater clarity that NPA (%) has reached a whopping 24.9% (Rs. 16,361 crore) in respect of Dena Bank, while it is 13.2% (Rs 56,480 crore) and 6.5% (Rs 7,526 crore) for Bank of Baroda and Vijaya Bank respectively as at 31st March 2018. The question that naturally comes knocking is how does creating a new bank with bad loan ratio of 24.9 % (Dena Bank) & 13.2% (Bank of Baroda) respectively genuinely helps any one? On the contrary it will pull down the performance of Vijaya Bank. What it does is that it sweeps under the carpet the bad state of Dena Bank and BoB".



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All India Daily: Banks Might Get Closed For Five Days From December 21
Banks Might Get Closed For Five Days From December 21
All India Daily
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