Bank employees and officers unions will go on nation-wide strike on August 5 to protest against proposed banking sector reforms and wage related issues as conciliatory talks with the management has failed.
"The United Forum of Bank Unions (UFBU) met the financial services secretary as well as the IBA (Indian Banks' Association) Chairman, but there was no solution and stalemate continues. So they are going ahead with the strike," said a State Bank of India official.
UFBU is an umbrella organisation of five workman unions and four officers unions of public sector and private sector banks in the country.
There are about 10 lakh bank employees and officers working in public sector banks, private banks, foreign banks, Co-operative banks and regional rural banks.
"The other issues are privatisation of banking and outsourcing of bank jobs and attempts to impose anti-employee recommendations of Khandelwal Committee", the official said.
In addition, there are pending issues related to pension and regulated working hours for officers.
In the name of banking sector reforms, he said, the government is attempting to reduce their share of equity capital in the public sector banks, thereby, increasing the hold of private capital in these banks.
The government is also pursuing their policy of consolidation and merger of public sector banks, which are totally unwarranted and would in no way benefit in strengthening banks, he said.