In compliance with Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, Union Bank Of India has informed that the company has been advised by the Indian Banks’ Association (IBA) that United Forum of Bank Unions (UFBU) has served a Notice of two days’ Nation-wide Strike on 16th and 17th December, 2021. Further, it is informed that the constitutent Unions of UFBU, AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC also propose to go on Bank Strike in support of their demands. In the event of materializing of strike, the functioning of the Bank’s branches and administrative offices across India may be affected. However, the Bank is taking all necessary steps in terms of the existing guidelines to deal with the strike and for smooth functioning of Bank’s operations. In terms of SEBI Circular No.: CIR/CFD/CMD/4/2015 dated 09.09.2015, the company informed that as of now, the Bank is unable to quantify the loss on account of said strike.
The above information is a part of company’s filings submitted to BSE.
