Allahabad Bank has informed that the Government of India, Ministry of Finance, Department of Financial Services and Indian Bank’s Association (IBA) have advised the Bank that the United Forum of Bank Unions (UFBU) has served a notice informing their decision to go on one day’s strike on July 29, 2016 in support of their certain demands. The issues and demands are of industry level and strike call is also given at industry level. Therefore, if the strike takes place, the functioning of Branches of the Bank may be affected. The Bank is taking all the necessary steps in terms of the existing guidelines for smooth functioning of Bank’s Branches/Offices on the day of Strike (s), in the event the Strike materializes.
The above information is a part of company’s filings submitted to BSE.
