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All-India bank strike on July 4

The United Forum of Bank Unions would observe a nation-wide strike on July 4 to press for their demand for payment of arrears to officers and employees of Indian Bank, UCO Bank and United Bank of India.

The all-India bank strike, if it fails to evoke an adequate response from the Centre, would be followed by another strike in these three banks on July 17.

The UFBU, representing nine officers/employees unions, would hold a meeting on July 25 "to take stock of the situation and decide further action," All India Bank Employees' Association general secretary, T Chakraborti, told reporters in Calcutta on Wednesday.

Alleging that the arrear payment in these banks were pending for last 15 months, he said: "The chairmen of the banks have asserted that they are now in a position to pay arrears, but they cannot do so unless they get the necessary clearance from the Centre."

The arrears liability of Indian Bank, UCO and UBI stood at Rs 833.9 million, Rs 10.9 billion and Rs 830 million, respectively.

Chakraborti said that while all the other banks paid the arrears following the industry-level salary settlement in 1999-00, the Centre had advised these three banks not to implement the same due to their weak financial position.

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