News

Bank unions defer 3-day strike after talks

SimpliCity News Team · 20 hours ago

Coimbatore: The United Forum of Bank Unions (UFBU), an umbrella body representing several banking unions of workers and officers, has deferred its proposed three-day nationwide strike scheduled from Monday, September 28- 30, following late-night discussions with the Indian Banks’ Association (IBA)

The meeting between the IBA and UFBU was held at 9.30 pm on Sunday, following which the UFBU issued a statement announcing the deferment of the proposed three-day strike.

One of the key demands of the bank unions was the introduction of a five-day working week, replacing the existing six-day working week.

In a joint statement representing seven bank unions, the UFBU said a high-level committee comprising representatives of the IBA and UFBU would be formed immediately to deliberate on the demand for declaring the remaining Saturdays as holidays.

The committee will explore possible alternatives, consult all stakeholders and work towards a solution acceptable to all parties, with particular consideration for customers.

Regarding the Performance Linked Incentive (PLI) scheme for Scale IV and above bank officers, the unions said discussions could begin with the IBA proposing modifications to the scheme to the Government to address the concerns raised by the unions.

The two sides also agreed to discuss the remaining pending issues for an early resolution.

In view of the understanding reached during the talks, the UFBU agreed to defer its proposed strike and agitation programmes.

As the proposed strike from September 28 to 30 coincided with the half-yearly closing of banks, a crucial period for financial operations, it could have caused significant inconvenience to customers, businesses, government transactions and international banking operations.

Bank Strike UFBU IBA Bank Employees Five-Day Workweek Banking Sector Performance Linked Incentive

Bank unions defer 3-day strike after talks

Related stories