Nationwide Bank Strike Deferred After UFBU-IBA Talks

Guwahati: The United Forum of Bank Unions (UFBU) has deferred its proposed three-day nationwide bank strike scheduled from today, 28^th  September  to 30^th September after late-night discussions with the Indian Banks’ Association  on Sunday.

Representatives of the UFBU and IBA met at around 9.30 pm on 27^th September  to discuss key demands raised by banking unions, including the implementation of a 5-day working week and changes to the Performance Linked Incentive (PLI) scheme for senior bank officers.

As per UFBU statement, both sides agreed to immediately constitute a joint committee to examine the demand for declaring all Saturdays as holidays for banks. The committee will explore various options, consult stakeholders and work towards a solution acceptable to all parties, including bank customers.

The IBA and UFBU will also hold discussions on proposed changes to the PLI scheme for officers in Scale IV and above. The matter will subsequently be taken up with the government to address the concerns raised by the unions.

Other outstanding issues mentioned in the minutes of the 8^th March , 2024, IBA-UFBU meeting will also be reviewed with the aim of resolving them at the earliest. After the agreement reached during Sunday’s meeting, the UFBU decided to defer its planned agitation and strike.

The proposed strike was expected to involve around eight lakh bank employees and officers and could have disrupted banking services nationwide. With the strike deferred, banking operations are expected to continue normally from today,  28^th September .

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