As many as 4000 employees of private sector lender, ING Vysya Bank have decided to go on strike today, March 17, 2011. The employees are discontent over many issues including outsourcing of contractors.

"There has been no recruitment in the bank for about 10 years, and most of the work is being outsourced to contract labourers. By doing this, the bank is not honouring the settlement that we had entered into with the management earlier," Mr Ramakrishna Reddy, General-Secretary, All India ING Vysya Bank Employees Union said.

The bank has a total work force of nearly 7000 which includes contractors. Out of them, around 4000 employees would be participating in the strike.

Along with this, the employee union also has issues on pay scales being offered to employees. It is seeking parity in pay scales with that set by Indian Banks' Association (IBA).

"In fact, some top executives are even earning Rs 3-4 crore per annum, which is higher than IBA scales," claimed a union member.