Bank Strike Deferred: September 28-30 Protest Put on Hold, Open Normally

AI FEED

The proposed three-day nationwide bank strike from September 28 to 30 has been deferred.
The decision followed talks between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) on September 27.
A high-level committee will discuss the demand for a five-day banking week and other pending issues.

Mumbai: The proposed three-day nationwide bank strike scheduled from September 28 to 30 has been deferred following discussions between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU).

The UFBU announced the decision in a circular issued on September 27 after a meeting with the IBA at 9:30 pm. The development means the proposed strike will not proceed as originally scheduled, providing relief to customers who were concerned about possible disruptions to banking services.

The decision came after the two sides agreed to continue discussions on the unions’ pending demands, including the introduction of a five-day banking week and changes to the Performance Linked Incentive (PLI) scheme.

Bank Strike Deferred After IBA-UFBU Meeting

According to the UFBU circular, a high-level committee comprising representatives of the IBA and UFBU will be formed immediately.

The committee will examine the demand to declare the remaining Saturdays as bank holidays and explore alternative solutions acceptable to stakeholders and customers.

The demand for a five-day banking week has been a major issue raised by bank employees and officers.

The two sides also agreed to begin discussions on the PLI scheme for officers in Scale IV and above. The IBA will propose modifications to the government to address concerns raised by unions and associations.

Other pending matters recorded in the minutes of March 8, 2024, will also be discussed for early resolution.

UFBU Puts Nationwide Strike Action on Hold

Following the discussions, the UFBU agreed to defer its proposed agitation programmes and strike actions.

The union body had announced the three-day nationwide strike on Friday, citing delays in implementing commitments made in an earlier agreement.

The latest decision puts the planned industrial action on hold while discussions continue between the unions and the banking authorities.

Five-Day Banking Week Remains Key Demand

Speaking at a press conference in Shimla, UFBU Himachal Pradesh Convenor and Bankers United Forum of Himachal Pradesh President Narendra Sharma said the unions had called for industrial action because several commitments remained unimplemented.

He said the main demand was the introduction of a five-day banking week, with Saturday and Sunday as weekly holidays.

The unions have also sought the withdrawal of the new PLI scheme, which Sharma said had been introduced unilaterally by the Department of Financial Services.

According to Sharma, more than two-and-a-half years have passed since the agreement was signed, but the commitments made under it have not been fully implemented.

He also said bank employees and officers did not intend to inconvenience customers. However, he maintained that the delay in addressing their demands had prompted the unions to announce industrial action.