unions | Common News Update

Mar152021 by adminNo Comments

Bank strike: Key services to be hit as unions call 2-day agitation to protest privatisation

Finance

Banking operations across the country, such as deposits and withdrawal at branches, cheque clearance and loan approvals , have been hit as United Forum of Bank Unions (UFBU) began a two-day agitation to protest against the proposed privatisation of two state-owned lenders. UFBU, an umbrella body of nine unions, in a statement claimed that about 10 lakh bank employees and officers of the banks will participate in the strike. Public sector lenders, including informed their customers that their normal working could be affected if the strike materialises. However, branches of private sector lenders like ICICI Bank, HDFC Bank and Axis Bank are open as they are not part of the strike. The strike comes after Union Finance Minister Nirmala Sitharaman's Budget announcement where she announced the ...

Feb42021 by adminNo Comments

Trade unions call for two rounds of nationwide protests this month against privatisation

Finance

NEW DELHI: Trade unions representing the insurance and public sector banking sectors have decided to hit the path of agitation, starting with two rounds of national protests this month, against the budgetary proposals for privatisation in the insurance sector by increasing foreign direct investment (FDI) limit to 74% from 49% and for selling one insurance company and two public sector banks. Union leaders said they were considering holding joint agitations. All India LIC Employees Federation general secretary Rajesh Kumar and K Govindan, general secretary of the Joint Forum of Trade Unions and Associations in Public Sector General Insurance Companies told ET separately that both the unions have held respective preliminary discussions and have chalked out further action plans, including emp...

Nov252020 by adminNo Comments

Bank operations may be hit by unions’ strike on Thursday

Finance

NEW DELHI: Banking operations across the country may be impacted on Thursday as some bank unions would be joining the one-day nationwide strike called by central trade unions. Ten central trade unions, except Bharatiya Mazdoor Sangh, will observe the nationwide general strike to protest against various policies of the central government. Many lenders, including IDBI Bank and Bank of Maharashtra, in regulatory filings on Wednesday said their normal working could be affected at the branches and offices. The All India Bank Employees' Association (AIBEA), All India Bank Officers Association (AIBOA) and Bank Employees Federation of India (BEFI) are participating in the strike. "Lok Sabha in its recently held session has passed three new labour enactments by dismantling existing 27 enactments...

Jul222020 by adminNo Comments

Bank staff unions, Indian Banks’ Association agree on 15 per cent wage hike

Finance

NEW DELHI | MUMBAI: Bank employees' unions and the Indian Banks' Association (IBA) have reached an agreement for a 15 per cent annual hike in wages, a move that will result in an additional yearly outgo of nearly Rs 7,900 crore by lenders. The decision was taken at a meeting held between the IBA -- representing managements of banks -- and members of the United Forum of Bank Unions (UFBU) representing workmen unions and officers' association. The wage revision would be effective from November 2017, according to the agreement signed by bank unions and the IBA. The annual wage increase in salary and allowances has been agreed at 15 per cent of the wage bill as on March 31, 2017, which works out to be Rs 7,898 crore on payslip components, as per the agreement. Close to 37 banks, including ...

Jun42020 by adminNo Comments

BA owner burns ‘£178m of cash a week’ as airline ramps up war of words with unions

Business

British Airways (BA) has told staff its parent firm is burning through £178m of cash a week and the airline does not have "an absolute right to exist" as a row with unions intensifies.In a letter to staff seen by Sky News, BA chief executive Alex Cruz rounds on the GMB and Unite unions, calling a campaign to take Heathrow landing slots away from BA "bizarre" and a threat to jobs. He criticises the government for damaging the industry though the introduction of a 14-day quarantine period from Tuesday as the coronavirus pandemic eases. Image: BA boss Alex Cruz: 'The BA of tomorrow will be a smaller company' The letter to staff, sent after the Home Secretary unveiled the plans yesterday afternoon, says "the government has dealt another b...