The United Forum of Bank Unions consisting of nine bank unions has threatened to go on a one-day strike on August 24 in support of their wage demand.

Claiming that the Indian Banks Association has been maintaining a rigid stand, the forum said the IBA had offered an annual increase in the wage bill of Rs 818 crore (Rs 8.18 billion) for workers and Rs 604 crore (Rs 6.04 billion) for officers, a little more than eight per cent of the total wage bill as on March 2002.

The forum in a statement said in recent years profits of all banks had gone up substantially and dividend payouts huge in the absence of any recruitment and increase in the volume of business.

The agitational programme planned by the forum includes meeting with IBA chairman and all banks, demonstrations on August 5 and 18, dharna in state capitals culminating into a one-day strike on August 24, it said.