Bank employees threaten strike on Dec 19

Employee unions in public sector banks today threatened to go on nation-wide strike on December 19 to press for early wage revision.
The United Forum of Bank Unions in a meeting held in Chennai decided to go on strike on December 19, Ashwini Rana, General Secretary of the National Organisation of Bank Workers, told PTI.
The strike is also to protest reforms in the banking sector, he said.
The unions are opposed to the move to give near national treatment to foreign banks if they set up a wholly-owned subsidiary (WOS) in the country.
Earlier this month, RBI had issued guidelines permitting WOS of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.

It also allowed foreign bank subsidiaries to list on local stock exchanges.

Wage revision of bank employees is due from November 2012, Rana said.
Improvement in pension scheme and other retirement benefits is another demand of unions.
The National Organisation of Bank Workers is one of the constituents of the United Forum of Bank Unions, which is an umbrella body of bank employees union.