United Forum of Bank Unions' (UFBU), an umbrella body of nine unions, at its meeting in Chennai had decided not to proceed with the proposed All-India strike on March 15.
The UFBU has taken the decision to this effect in view of the present situation in the aftermath of Rs 11,300 crore scam/fraud in Punjab National Bank (PNB) and the vitiated atmosphere in the entire banking sector, All India Bank Employees' Association (AIBEA) General Secretary Ch Venkatachalam told UNI on Sunday.
The UFBU had earlier decided to go on strike on March 15 to press for early finalisation of wage revision. The wage revision was due in November 2017.
The meeting observed a minutes' silence to pay homage to former leaders of UFBU Com. S.R Bal (BEFI), Com.S.R Sengupta (AIBOC) and Com. P Lakshminarasiah (NCBE) who had passed away recently.
Venkatachalam, who was present in the meeting, noted that in view of the disturbed situation in the banking sector on account of the recent PNB fraud, Indian Banks' Association (IBA) had postponed the meeting scheduled for February 21, 2018 and it is expected that the meeting would be called within the next 2 or 3 weeks.
The meeting expressed serious concern about the manner in which a mega fraud has taken place in PNB and the way the Banks stand exposed to such unthinkable risks. However, the meeting noted that instead of full-scale investigation, attempts are being made to single out some few lower level staff as though they alone are responsible for entire fraud.