The right to strike is one of the indispensable means available to workers and their organizations, a right that they obtained after prolonged struggle. The intention of this right is for promoting and protecting their economic and social wellbeing. These naturally include obtaining better working conditions and finding solutions to their labour problems.

This is a sacred right that should be used in the most pressing situations when all other avenues have failed. Banks in India might not work today and tomorrow (September 24 and 25), since the unions have decided to go ahead with the nation-wide strike. There were several rounds of conciliatory talks between the Indian Banks' Association (IBA) and the united forum of bank unions (UFBU) under the auspices of the Chief Labour Commissioner (CLC). The talks failed to yield any result.

The main issues relate to pension option and banking reforms. The Bank Unions sought a timeframe for resolving their demands on wage revision, pension option and compassionate appointment. They also wanted a firm commitment that reforms like privatisation of banks, merger of banks and amendment to Banking Regulation Act will not be implemented. The Government is understood to have given assurances to the unions that reforms would wait. They are seeking a firm commitment from the IBA.
The unions also want the Government not to allow foreign investment in our Banks. They demand that the Government to put a full stop to the proposal to create four or five Banking Corporations, by merging the existing Banks.

On the other hand, the Government is eager to move ahead to the next logical step in reforms and globalization. It had hoped that once the Leftist Parties are out of the alliance, they could easily implement the reform policies.

The Government should declare its policy sans ambiguity and the unions should be sparing in the use of strike as a tool, especially because the country at this juncture cannot have the luxury of all its commercial activities coming to a grinding halt.