Mumbai: Bank unions have deferred their nationwide strike from September 28 to 30 after receiving assurances from the Indian Banks’ Association (IBA) on several demands, including a five-day working week.
The United Forum of Bank Unions (UFBU), which had called the three-day stoppage, announced the decision on Sunday. Banks will function on Monday following the postponement.
The strike was scheduled to coincide with the half-yearly closing, making the decision significant for customers and banking operations during the period.
Committee On Saturday Holidays
A high-level committee comprising representatives of the IBA and UFBU will be formed immediately to discuss declaring the remaining Saturdays as bank holidays.
According to the UFBU statement, the committee will examine possible alternatives and consult stakeholders before working towards an acceptable solution.
The discussions will place particular emphasis on customers’ interests. The proposed committee offers a route for further talks on the unions’ demand for a five-day working week.
However, the announcement concerns the formation of a committee and further consultations. It does not announce the implementation of a five-day banking week or a date for introducing additional Saturday holidays.
Talks On Incentive Scheme
The assurances also cover the performance-linked incentive (PLI) scheme for officers in Scale IV and above.
Discussions with the IBA can begin on proposed modifications to the scheme, addressing observations raised by unions and officers’ associations.
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Any proposed changes would be taken to the government. The statement indicates that further negotiations will be needed to shape those proposals.
Pending Issues For Resolution
Other unresolved matters recorded in the minutes dated March 8, 2024, will also be discussed between the parties for an expeditious resolution, the UFBU said.
Following these assurances, the union grouping agreed to defer its proposed agitation programmes and strike action.
For customers, the immediate outcome is that the announced three-day stoppage will not proceed as planned, while discussions on working days, incentives and pending service-related issues move forward between both sides.
