Bank unions threaten strike on Jul 29 against banking reforms

Unions of public sector banks have given a strike call on July 29 to protest against reforms in the banking sector.

The Indian Banks' Association (IBA) has informed banks that United Forum of Bank Unions (UFBU) has served a notice of strike on IBA, informing their decision to go on strike at all banks on July 29 on "issue and demand to stop banking sector reforms".

"The All India State Bank Officers' Federation and the All India State Bank of India Staff Federation are members of UFBU. Thus, it is likely that the bank will also be impacted to some extent by the said strike calls," the country's largest lender State Bank of India said in a BSE filing today.

In a filing, Bank of Baroda also said it has been informed by IBA that the Convener of the UFBU has given the notice for strike demanding "stopping banking reforms".

"In the event of UFBU proceeding on strike on July 29, 2016 the functioning of the bank's branches and administrative offices across India will be affected," it said.

All major unions of Bank of Baroda, including All India Bank of Baroda Officers Association affiliated to INBOC, All India Bank of Baroda Employees Federation affiliated to NCBE, and All India Bank of Baroda Employees Co-Ordination Committee affiliated to AIBEA have given the call for strike.