ALL-INDIA BANK STRIKE CALLED FOR OCTOBER 22!

Two bank unions - the All India  Bank Employees' Association (AIBEA) and the Bank Employees Federation of India (BEFI) have warned of going on a 24-hour long strike on October 22 as a sign of protest against bank mergers and falling deposit rates, with job security being another reason.

While Bank of Maharashtra, Bank of Baroda and Syndicate Bank expressed concern over their functioning on that day, the State Bank of India has said the strike's impact would be minimal as most of its employees are not part of the two unions.

"The membership of our bank employees in unions participating in the strike is very few, so the impact of the strike on our operation will be minimal," SBI was quoted as saying by Mint.

"The Bank is taking necessary steps for the smooth functioning of bank's branches on the day of the strike, in the event the strike materialises, the functioning of the branches may be affected/paralysed," Bank of Baroda said.