Daijiworld Media Network – Bengaluru (RJP)

Bengaluru, Nov12: Banks will remain closed today on account of a strike called by united forum of bank unions (UFBU). UFBU had called a one day strike at the national level.

UFBU said that the wage revision for bank employees is due from November, 2012 subsequent to the expiry of the last Bipartite Settlement. UFBU has been demanding for a time-bound approach to hold the negotiations on its demands and for conclusion of wage settlement within a reasonable time.

But Indian Banks Association (IBA) has inordinately delayed the negotiation process and there is no significant progress in the wage negotiations despite a lapse of nearly two years' time.

The formal negotiations had started in February 2013 and only 13 rounds of discussions have so far taken place between IBA and UFBU. The IBA has been accused of being stubborn in its approach to decide a ‘respectable settlement’.

And if there is no favourable response from the government, zonal level strikes will be observed from December, 2 to 5. The southern zone strike will take place on December 2. Karnataka falls under the southern zone.