All the members affiliated to nine bank employees and officers unions have gone on strike, United Forum of Bank Unions (UFBU) convener CH Venkatachalam said.

Banks including country's largest lender State Bank of India (SBI) have informed the customers well in advance about the likely inconvenience due to strike.

General Secretary of National Organization of Bank Workers Ashwini Rana said that Indian Banks' Association (IBA) held discussions with UFBU on December 14 on wage revision.

After a lot of deliberations, IBA stated they would be able to offer an increase of 5 percent over the wage expenses.

Since their offer was too low and not acceptable to the unions, it has been decided to go ahead with strike, Rana said. The wage revision of bank employees was due from 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 eight lakh. There are about 50,000 branches of these banks across the country.


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