Banks To Remain Closed For Four Days From Today; Know Why

Bhubaneswar: Beginning Saraswati Puja on Thursday, banks across the country will remain closed for four consecutive days.

The reason: United Forum of Bank Unions (UFBU) has called for a two-day nationwide strike from Friday (January 31) to press for early wage revision. The UFBU had made this announcement on January 15 after talks with the Indian Banks’ Association (IBA) over this issue remained inconclusive.

While the strike will be on January 31 and February 1, the banks will also remain closed on February 2, which is a Sunday.

Worth mentioning, Union Finance Minister Nirmala Sitharaman will present the Economic Survey on January 31 and budget on February 1.

The UFBU, comprising nine trade unions, has also threatened to hold a three-day strike from March 11-13 and go on an indefinite strike from April 1, according to PTI.

While the UFBU is seeking at least a 15 per cent hike,  the IBA has capped the raise at 12.25 per cent.

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