PANAJI: The proposed three-day nationwide bank strike from September 28 to 30 has been deferred after the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) reached an understanding during a meeting on Sunday night.
The decision was announced by the UFBU in a circular issued on Sunday following a meeting with the IBA that began at 9.30 pm. A key outcome of the meeting was an agreement to immediately constitute a high-level committee comprising representatives of the IBA and UFBU to examine the demand for declaring the remaining Saturdays as holidays.
According to the UFBU circular, the committee will explore possible alternatives, consult all stakeholders and work towards a solution acceptable to all concerned, including bank customers.
The demand for a five-day banking week has been one of the major issues raised by bank unions and was among the key demands behind the proposed strike. The issue has remained under consideration, with the Finance Ministry previously stating that it had made no commitment to implement a five-day working week for banks. The two sides also reached an understanding on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers.
As per the UFBU circular, discussions on the issue can begin, with the IBA proposing modifications to the government to address observations raised by the unions and associations.
The IBA and UFBU will also discuss the residual issues listed in the minutes of the meeting held on March 8, 2024, to resolve them expeditiously. “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 in its circular.
The proposed strike would have affected banking operations across the country for three consecutive days, from September 28 to 30. The latest understanding between the IBA and UFBU means that bank branches will function normally, with the proposed strike action deferred pending further discussions on the outstanding issues.
