March 19, 2002
‘21’
BANKING INDUSTRY TO CONTINUE AS PUBLIC UTILITY SERVICE FOR ANOTHER SIX MONTHS
The Central Government has declared services in the Banking Industry as a public utility service under the Industrial Dispute Act, 1947 for another six months with immediate effect. In a notification issued here, the Labour Ministry said that this is being done in the public interest. The services in the Banking Industry were earlier declared as public utility service from March 19, 2001 for six months and subsequently for another six months from September 19, 2001.
The employees in the banking industry would for another six months, among other things, be required to give notice to their employers six weeks in advance of proceeding on strike so that conciliatory proceedings can be started. During the conciliatory proceedings and seven days after their completion, the employees cannot go on strike.