Banks strike put off after govt assurances  

An impending public sector banks' strike from September 26-27 over the mega-bank merger scheme has been deferred by state-run lenders' unions after the government gave assurances to form a committee which will look into the issues arising out of the consolidation.

The strike was deferred by the four officers' unions of the banking industry after their representatives met with Finance Secretary Rajiv Kumar.

Kumar gave positive feedback on the formation of a Committee which will look into the issues arising out of the merger.

"The Secretary Finance was positive in formation of a committee consisting of all concerned to address the issues arising out of the proposed merger of 10 banks, including preserving the identity of all the banks," the unions said in a statement on Monday evening.

"An appeal was made to us to revisit our strike call in view of the discussions... In view of the consideration of the positive and workable solution by the Secretary, Finance, the 48-hour strike from midnight of 25th September, 2019 to 27 September, 2019 stands deferred."

The development assumes significance as the proposed strike call by the state-run lenders' unions against the mega PSB merger would have commenced on S eptember 26, Thursday, and end on September 27, Friday.

This strike, along with the planned monthly non-working day of fourth Saturday on September 28 and Sunday on September 29, would have effectively shut PSB operations for four consecutive days, thus, hampering cash withdrawals at branches and ATMS.

The strike call was given by four officers' unions of the banking industry -- All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers Congress (INBOC) and National Bank Officers' Organisation (NOBO).