National Convener of UFBU M V Murali on Sunday said that the Centre and the Indian Banks Association (IBA) have failed to settle the 14-month long pending demand of 32 percent wage revision for about a million strong staff in the banking sector.

He also urged the government to immediately halt the ongoing reforms in the banking sector as it would pave way for the arrival of a large number of foreign banks.

The foreign and Indian private corporate sector banks would not serve the needs of common man in any manner in the country, Murali said.

The wage revision of public sector bank employees has been due since November 2012.

UFBU is an umbrella organization of nine bank employees and officers unions.

There are 27 public sector banks in the country with employees strength of about 8 lakh. There are about 50,000 branches of these banks across the country.


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