Biju, Manager and Branch Head of Union Bank of India's Kakkabe Branch, was found dead by suicide in his office on 11 September 2024. Allegations have surfaced that sustained work pressure and mental harassment may have led to his tragic death.
Operations at Union Bank are expected to grind to a halt on 27 September as two major unions and the Joint Forum of Union Bank Unions will be going on strikes, disrupting banking services nationwide.
Union Bank operations will be disrupted for four consecutive days as two major unions call for a strike on 27 September, followed by the weekend holidays and another strike on 30 September, causing service disruptions nationwide.
Hundreds of bankers from UCO Bank’s Shimla branches staged a protest on 5th September 2024 outside the Zonal Office, expressing their dissatisfaction with the growing toxic work culture within the bank.
Fairfax Financial Holdings’ management of CSB Bank is raising red flags as it seeks to acquire a stake in IDBI Bank. Issues like high employee attrition, altered banking practices, and a shift to contract-based employment are sparking concerns among stakeholders and union leaders.
Despite two industry-wide Bipartite Settlements since 2015, CSB Bank staff remain stuck with wages from the 10th Bipartite Settlement, which expired in 2017. Staff and officers express growing frustration over management's refusal to implement more recent settlements despite the bank yielding a 33% increase in total income and a 4% increase in profit in FY24.
The ruling is a landmark victory for the Bank of Maharashtra Employees Federation and India's trade unions, upholding the right of retired representatives to participate in negotiations, reinforcing union members' democratic right to choose their leaders.
The Kerala Gramin Bank came under heavy criticism for deducting loan EMIs from the emergency relief fund provided to survivors of the Wayanad landslide. Following protests and media reports, the state government intervened to stop the deductions and ordered a refund.
The convention highlighted challenges facing young bankers and job security concerns. The convention also discussed the limited presence of unions in new-generation banks like HDFC and ICICI, where many young employees are on contract.
AINBEA met with MPs in Delhi to seek support for channeling a portion of RBI’s income to NABARD’s National Rural Credit Fund. The move aims to facilitate cheaper rural credit and revive the agricultural sector.
