Three-day nationwide bank strike called off;
Delhi: Positive assurance regarding a five-day work week given during the IBA-UFBU meeting. There is welcome news for bank customers across the country: the three-day nationwide bank strike scheduled for September 28–30 has finally been called off. The United Forum of Bank Unions (UFBU) made the official announcement regarding this on Sunday, September 27. Since the strike was set to coincide with the half-yearly closing period, there was a likelihood of significant disruption to banking services. Consequently, there were concerns about the impact on ordinary customers as well as on trade and business transactions. In light of these factors, the decision to withdraw the strike was taken following a crucial meeting held on Sunday night. What exactly happened on Sunday night? A significant meeting took place at 9:30 PM on Sunday between representatives of the Indian Banks' Association (IBA) and the UFBU. The meeting involved a detailed discussion on the pending demands of bank employees and officers. The most critical demand among these was the implementation of a five-day banking week. During the meeting, the IBA assured the bank unions that it would take positive steps regarding their demands. Following this assurance, the UFBU decided to call off the three-day nationwide strike scheduled for September 28–30. The issue of Saturday holidays back in focus: Meanwhile, bank employees have long been demanding a five-day work week. Currently, banks remain closed on the second and fourth Saturdays of the month but operate on the other Saturdays. However, bank unions are demanding the implementation of a five-day banking week by declaring a public holiday on all Saturdays. Following discussions held on Sunday, a decision has been made to constitute a high-level committee to address this issue. Efforts will be made to reach a resolution through consultations with all relevant stakeholders, ensuring that customers face no inconvenience while also considering the demands of bank employees. Notably, this was a key point in the wage settlement reached in March 2024. The issue of a five-day banking week was not the sole reason behind the strike; the unions also have demands regarding the Performance Linked Incentive (PLI) scheme for bank officers in Scale IV and above. According to the UFBU, the path is now clear for further discussions with the IBA on this matter. The demand is that the unions' concerns be addressed before any new proposal regarding the PLI scheme is submitted to the Central Government. Furthermore, both parties will strive to resolve other pending issues from the discussions held on March 8, 2024.
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