The proposed three-day nationwide bank strike from September 28 to 30 has been deferred, reported ANI.
The decision follows talks between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) on key demands raised by bank employees and officers.
The decision was announced by the UFBU in a circular issued on September 27 after a meeting with the IBA that began at 9:30 pm. The move means the planned strike will not go ahead on the scheduled dates.
Five-day banking week demand to be discussed
According to the UFBU circular, “A high-level committee of IBA and UFBU will be formed immediately to discuss the demand for declaring remaining Saturdays as holidays and explore alternatives to arrive at a solution acceptable to all stakeholders and customers.”
The issue relates to the unions’ long-standing demand for a five-day banking week, under which Saturdays and Sundays would be weekly holidays.
The two sides also agreed to take up the residual issues mentioned in the minutes dated March 8, 2024, with the aim of resolving them at the earliest.
Talks on performance-linked incentive scheme
The discussions will also cover the Performance Linked Incentive (PLI) scheme for Scale IV and above officers.
The two sides agreed that discussions could begin on the issue, with the IBA proposing modifications to the government to address observations raised by unions and associations.
“In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred,” the circular further stated.
The UFBU had announced the three-day nationwide strike on Friday, saying commitments made under an agreement with the government more than two-and-a-half years ago were yet to be implemented.
Addressing a press conference in Shimla, UFBU Himachal Pradesh Convenor and President of Bankers United Forum of Himachal Pradesh Narendra Sharma said the unions had been compelled to consider industrial action after waiting for the implementation of the pending commitments.
“Our main demand is the implementation of a five-day banking week, with Saturday and Sunday as weekly holidays. The second major issue is the withdrawal of the new Performance Linked Incentive scheme, which has been implemented unilaterally by the Department of Financial Services. More than two-and-a-half years have passed since the agreement was signed, but the commitments made in it have still not been implemented. We have therefore been left with no option but to resort to agitation,” said Sharma, reported ANI.
He said the unions were also aware of the potential difficulties for customers if banking services were disrupted.
“We want to make it clear that bank employees and officers have no intention of inconveniencing customers. We understand the importance of uninterrupted banking services and the difficulties customers may face during a strike. However, when our legitimate demands and commitments made in the agreement remain pending for such a long period, we are compelled to take industrial action to draw the attention of the government,” he added further.
With the strike deferred, the next step will be discussions between the IBA and UFBU on the five-day banking week, the PLI scheme and other pending issues.