Three-Day Nationwide Bank Strike Deferred After IBA-UFBU Talks

A three-day nationwide strike by bank employees began Sept. 28-30, has been deferred after the United Forum of Bank Unions and Indian Banks’ Association reached an understanding after late-night talks on Sunday, local media reported.

The United Forum of Bank Unions (UFBU), an umbrella body of bank unions, said a high-level committee will be constituted comprising representatives of the UFBU and IBA to look into the demand for a five-day banking week, including holidays on all Saturdays.

The two sides also agreed to begin discussions on the modifications in the Performance Linked Incentive scheme for Scale IV and above officers and take up the other pending issues from their conversations in March 2024, the UFBU statement said.

The strike had been called over demands including a five-day banking week and changes to the incentive scheme. According to NDTV, more than 1.81 lakh branches could be affected by the participation of around 8 lakh bank officers and employees.

Banks are likely to operate normally from Monday to Wednesday with the strike deferred. The proposed action had coincided with the half-yearly closing of banks on Sept. 30.