Owing to the strike, operations such as clearing of cheques, money transfer, cash remittances, and deposit and withdrawals at branches will not be possible in the next two days.
Why are bank unions protesting:
The United Forum of Banking Unions (UFBU), an umbrella body of nine bank unions, has demanded early wage review settlement, sufficient increase in salary and improvement in other service conditions and wage revision settlement for all officers up to scale VII.
In the last wage revision in 2012, which was for the period between November 1, 2012, and October 31, 2017, bank employees got a 15 per cent wage hike and AIBOC Joint General Secretary Ravinder Gupta said the unions were expecting a better salary increase this time.
"We had requested the IBA to come up with a better offer than the mere two per cent hike offer made earlier," said C H Venkatachalam, General Secretary of AIBEA, one of the bank union participating in the strike.
"We also asked the IBA not to delink the wage negotiations for bank officers in the Scales 4-7. The IBA did not do anything," he added.
Some banks to remain unaffected
According to reports, some banks, mostly private sector banks, will not be impacted by the strike.
ICICI Bank, HDFC Bank, Axis Bank, YES Bank and IndusInd Bank are some of the banks that will continue regular operations.