Bank trade unions to hold two-day nationwide strike from January 31; SBI says work will be impacted

A two-day strike has been called by United Forum of Bank Unions (UFBU) for a two-day strike across India on January 31 and February 1, 2020.

The strikes are being held after talks of wage revision failed with the Indian Banks' Association (IBA).

United Forum of Bank Unions (UFBU) constitutes 9 major unions which includes All India Bank Employees' Association, All India Bank Officers' Confederation, National Confederation of Bank Employees, All India Bank Officers' Association, Bank Employees Federation of India, Indian National Bank Employees Federation, Indian National Bank Officers' Congress, National Organisation Of Bank Workers and National Organisation of Bank Officers.

The first day of the union's strike coincides with India's Economic Survey is on January 31, and the second day of the strike falls on the day when Finance Minister Nirmala Sitharaman will table her second budget in the parliament.  

The State Bank of India (SBI) has said that operations in the bank will be affected by the two-day nationwide strike. In a filing to the Bombay Stock Exchange (BSE) on Friday, SBI stated that they have made arrangements to ensure "normal functioning" of its branch offices but the strikes will impact its work to "some extent".  

They have also called for a strike on March 11, 12, and 13 demanding early wage revision settlement which has been due since November 1, 2017.