Bank unions have deferred their proposed three-day nationwide strike scheduled to begin on September 28. The decision came after a late-night meeting between the United Forum of Bank Unions and the Indian Banks’ Association on Sunday. The two sides agreed to continue talks on Saturday holidays and other pending demands.
The umbrella organisation represents seven bank unions and about eight lakh employees, according to The Indian Express.
UFBU had called the strike after earlier talks failed to produce an agreement on the five-day banking demand.
The proposal was agreed upon between the IBA and unions during the March 2024 wage settlement and sent to the government for approval, according to the unions. With the strike deferred, banks are expected to operate normally from Monday. The decision removes the immediate risk of disruption to branch services, including cash deposits and withdrawals, cheque-related work and other transactions that need bank staff. A high-level committee comprising representatives of the IBA and UFBU will now be formed to discuss the unions’ demand to declare all remaining Saturdays as bank holidays. The committee will examine possible options, consult stakeholders and work towards an arrangement acceptable to banks, employees and customers. The five-day banking week has been the main issue behind the unions’ latest protest. Bank branches currently close on the second and fourth Saturdays of every month. Unions want all Saturdays declared holidays. The two sides also agreed to resume discussions over the performance-linked incentive scheme for Scale IV and higher officers. The talks will consider changes that could be proposed to the government to address objections made by bank unions and officers’ associations.
