Normal banking operations like cheque clearance in public sector banks across the country are likely to be hit on Wednesday as employees have decided to go on one-day nation-wide strike to press for wage revision. "In negotiations held today, Indian Banks' Association (IBA) stuck to its earlier stand of 11 per cent (wage hike) despite unions scaling down their demand to 23 per cent. Consequently, the conciliation ended in failure," United Forum of Bank Unions (UFBU) Convener M V Murali told PTI. Hence, the call for strike on November 12 stands, he added.
Read the Economic Times news report here.