Indian PSU banks' employees to go on strike demanding pay hike

After the failure of talks with the Indian Bank’s Association (IBA) over pay hike and other issues, the United Forum of Bank Unions (UFBU) has decided to go ahead with the scheduled strike on 6-7 of August. The employee unions of public sector banks have been in loggerheads with the management over their demand for a wage hike. On 4 August, the talks between the IBA and UFBU came to an abrupt end when the former further reduced its proposed pay hike from 17.3% to 13%. Banking services are expected to be severely hit on Thursday and Friday as nearly one million employees of public sector banks in India are likely to take part in the strike.