New Delhi: The nationwide bank strike planned for September 28-30 has been deferred after the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) agreed to discuss the employees’ demands.
The decision followed a meeting between the two sides at 9.30 pm on Sunday, September 27. The UFBU announced the decision in a statement issued later that night.
The IBA and UFBU will form a committee to examine the demand for a five-day banking week. The committee will consider making all Saturdays holidays, discuss other options and consult stakeholders before suggesting a solution acceptable to banks, employees and customers, as reported by Moneycontrol.
The two sides will also hold talks on the Performance Linked Incentive (PLI) scheme for officers in Scale IV and above, the UFBU said. The discussions may lead to changes in the scheme, which could later be placed before the government.
The IBA and UFBU will also discuss the issues that remained pending after their meeting on March 8, 2024. Both sides have agreed to work towards resolving them soon, the union forum said.
“In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred,” the union body said.
What Were The Unions Demanding?
The main demand was a five-day banking week, with banks closed on Saturdays and Sundays. At present, banks remain closed only on the second and fourth Saturdays of every month.
The IBA has recommended declaring all Saturdays holidays, but the proposal is yet to be implemented. The delay has led the unions to continue their campaign.
The unions have also raised issues related to pension benefits, including concerns affecting employees covered under the National Pension System (NPS). They are also seeking action on pending wage-related issues and changes to the PLI scheme.
The strike was planned as part of the unions’ protest over these demands. It was also scheduled during the half-yearly closing of banks on September 30.