New Delhi: The proposed three-day nationwide bank strike from September 28 to 30 has been deferred after a late-night meeting between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) opened the door for negotiations on key pending demands.
The UFBU announced the decision in a circular issued on September 27 following discussions with the IBA that began at 9:30 pm.
What Happened At The Meeting?
A key outcome was an agreement to immediately constitute a high-level committee comprising representatives from both the IBA and UFBU.
The committee will examine the unions’ demand to declare all remaining Saturdays as bank holidays, effectively paving the way for discussions around a five-day banking week.
It will also explore alternatives that could be acceptable to bank employees, other stakeholders and customers.
PLI Scheme Back On Table
Another major issue discussed was the Performance Linked Incentive (PLI) scheme for officers in Scale IV and above.
The two sides agreed to initiate discussions on the scheme. The IBA will propose modifications to the government to address observations and concerns raised by unions and officers’ associations.
What About Other Pending Issues?
Residual matters recorded in the minutes dated March 8, 2024, will also be taken up for discussions, with both sides seeking their resolution at the earliest.
Following these assurances, the UFBU agreed to defer its proposed agitational programmes and the three-day nationwide strike.
Why Had Unions Called The Strike?
The UFBU had announced the strike over what it described as delays in implementing earlier commitments.
Among its principal demands was a five-day banking week with Saturdays and Sundays as weekly holidays.
Union representatives had also objected to the implementation of the PLI scheme, arguing that it was introduced without adequate consultation.
With the strike now deferred, banking services are expected to continue normally while negotiations proceed.
