Three-day India bank strike deferred after late-night talks between unions and bank body
The planned three-day nationwide bank strike from 28 to 30 September has been deferred after the United Forum of Bank Unions and the Indian Banks' Association reached an understanding in late-night talks on Sunday.
The three-day nationwide bank strike planned for 28 to 30 September has been deferred after late-night talks between bank unions and bank managements, in a development on Sunday night.
The United Forum of Bank Unions (UFBU), an umbrella body of banking unions representing workers and officers, announced the deferment in a circular after a meeting with the Indian Banks’ Association (IBA) at 9.30 pm IST on Sunday. The two sides reached an understanding over the contentious demand for a five-day working week.
“A high-level committee of IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays,” the UFBU said in a joint statement representing seven bank unions, adding that the committee would work out a solution acceptable to all stakeholders and, more importantly, customers.
On the unions’ demand for withdrawal of the performance-linked incentive scheme for Scale IV and above officers, the two sides agreed discussions could begin with the IBA proposing modifications to the government. Residual issues from the minutes of March 8, 2024 will also be taken up for early resolution.
“In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred,” the union forum said.
The strike had been called to press for a five-day banking week to replace the current six-day week, under which only the second and fourth Saturdays are holidays. The strike period, 28–30 September, coincided with the half-yearly closing of banks, and the finance ministry had earlier directed public sector banks and regional rural banks to function normally on Sunday, 27 September, ahead of the planned stoppage.
Sources
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