Indian Bank Association Employees calls off Strike

Vadodara Feb 27: In a major relief for customers the United Forum of Bank Employees Unions (UFBU) today said they withdrew the nationwide strike call on March 15 because of the present situation in the banking system following the massive fraud at Punjab National Bank and the overall vitiated the atmosphere in the sector.

CH Venkatchalam, general secretary of the All-India Bank Employees Association (AIBEA) said that "The forum met over the weekend and decided to withdraw the strike called on March 15."

The Employees has said that " forum is seriously concerned over the manner in which a mega fraud has taken place at PNB and the way banks stand exposed to such unthinkable risks."

The Association has also said that "however, the meeting also noted that instead of a full-scale investigation, attempts are being made to single out a few lower level employees as if they alone are responsible for the fraud."