Bank unions defer nationwide strike after IBA assurance; banks to open Monday

Bank unions have deferred their planned three-day nationwide strike after the Indian Banks’ Association assured them of discussions on key demands, including a five-day work week. A joint committee will be formed to deliberate on declaring remaining Saturdays as holidays, while other pending issues will also be addressed. With the strike postponed, banks will remain open on Monday.

New Delhi: Bank unions on Sunday deferred their three-day nationwide strike following assurance from the Indian Banks’ Association (IBA) on their demands, including a five-day work week.

The strike call beginning Monday was given by the United Forum of Bank Unions (UFBU), which coincides with half-yearly closing.

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With the postponement of the strike, banks would function on Monday.

“A high-level committee of the IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays. This committee will explore all possible alternatives, discuss with all the stakeholders, and work out a solution acceptable to all the stakeholders, more importantly, the customers,” the UFBU said in a statement.

As regards the PLI scheme for Scale IV and above officers, the discussions can start with the IBA to propose modifications in the scheme to the government to address the observations of the unions/associations, it said.

The residual issues as listed in the minutes dated March 8, 2024, will be discussed between the parties for expeditious resolution, it said.

In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred, it added.