Udupi: Public sector banks under the banner of United Forum of Bank Unions (UFBU), have staged protest on demanding a wage hike in front of Syndicate regional office, here in Udupi on Wednesday 12.

The union had called of a nationwide strike. While speaking to media, U. Shivaraya, the chief convener for the union, said that UFBU has conducted series of talks with the Indian Banks’ Association (IBA) on the wage revision, which is outstanding since November 2012.

However, there is a less development even for an acceptable wage hike owing to the indifference of the banks’ managements. The hike supposed to be given once in every five year, which is not happening.
 
IBA initially dramatically declared five percent increase in the wages, which was not acceptable to the employees so second notice was issued stating hike up to 10 percent and finally, come up with 11 percent increase.

He added, “11 percent increase in wages does not benefit us and it is an insult to the employees.”

Our economy is facing inflation and the expenditure is increasing drastically every day. “We demand 23 percent of increase in the wages to cope up with the rising cost of living,” he added