Bank Strike on December 26: As conciliation talks fail, the All India Bank Officers' Confederation (AIBOC) has decided to go ahead with its strike on December 26. Banking operations across the country will be hit as lakhs of bankers will boycott work, protesting against the merger of Bank of Baroda, Dena Bank and Vijaya Bank.

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"During the conciliation meeting held in Delhi today (Thursday), the Additional Chief Labour Commissioner advised the three banks and IBA (Indian Banks Association) to hold negotiations with the unions and convey the Union's concerns to the government," AIBEA General Secretary CH Venkatachalam told IANS.

Further, he said that "No assurance came from either IBA or the government. Hence the conciliation talks failed and the December 26 strike stands," adding that the strike was only against the bank mergers.

The AIBEA is part of nine unions in the banking sector under the umbrella body of United Forum of Bank Unions (UFBU). 

Since India is largely unbanked or underbanked with low density of banks, the mergers will kill bank branches, said the AIBEA, adding that focus should be rather on recovering huge outstanding loans.

Notably, Christmas is falling on December 25, banks would remain closed for two days, hitting banking transaction. 

According to reports, bankers earlier wanted to stage the strike on December 24, which is Monday, to have a greater impact as the banks would then remain closed for four consecutive days (December 22-25), the unions decided to restrict it on December 26 to lessen the impact.

Most of the banks have already informed their customers about the strike and its impact on their normal banking operation.

Private sector banks, however, would continue their usual business as they are not participating in the strike.