The United Forum of Bank Unions (UFBU) has deferred its proposed three-day nationwide strike scheduled from September 28 to 30 after reaching an understanding with the Indian Banks' Association (IBA) following a late-night meeting on Sunday.
The strike had been called over several pending demands, including the long-standing demand for a five-day banking week, under which all Saturdays would be holidays for bank employees. Following the discussions, the IBA and UFBU agreed to immediately form a high-level committee to examine the issue of declaring the remaining Saturdays as holidays. The committee will explore various alternatives and consult stakeholders before working towards a solution acceptable to all, including customers.
The two sides also agreed to begin discussions on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers. The IBA will consider proposing modifications to the scheme to the government in response to observations raised by unions and associations.
Apart from this, residual issues listed in the minutes of the March 8, 2024 meeting will also be discussed between the IBA and UFBU for an early resolution. In view of the understanding reached, the UFBU said its proposed agitation programmes and strike action would be deferred.
With the strike postponed, banking services will operate normally on September 28, avoiding the disruption that could have coincided with the half-yearly closing of banks.
The government had earlier taken measures to minimise disruption from the proposed strike, including keeping public sector and regional rural banks open on Sunday, September 27, ahead of the planned three-day action.
