The United Forum of Bank Unions (UFBU) consisting of nine trade unions across the country representing 10 lakh bank employees and officers would observe the strike.

They are pressing for various demands including not to privatise public sector banks and increase private capital in such banks, and also protesting against FDI in banking sector.

Besides, the unions oppose move to privatise regional rural banks, co-operative banks, consolidate and merging banks among others, All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam said in a statement. The decision to go on strike was taken at the meeting here organised by UFBU.

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