New Delhi, Sept. 28: Bank customers across India can expect normal banking services on Monday after the United Forum of Bank Unions (UFBU) postponed its proposed three-day nationwide strike following fresh assurances from the Indian Banks’ Association (IBA).
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The strike, which was scheduled to begin on Monday during the crucial half-yearly closing period, was deferred after discussions between the two sides resulted in an agreement to continue negotiations on key employee demands.
A major breakthrough came on the long-pending demand for a five-day banking week. According to the UFBU, the IBA has agreed to set up a high-level joint committee that will examine the proposal to declare all Saturdays as holidays. The committee will consult stakeholders and explore options that balance the interests of employees, customers, and the banking sector.
Apart from the five-day work week, the two sides also agreed to resume discussions on revising the Performance Linked Incentive (PLI) scheme for Scale IV and above officers. The IBA is expected to work on proposed changes before taking the matter up with the government.
The unions said other unresolved issues identified in earlier negotiations, including those recorded in the March 8, 2024 meeting, will also be taken up for speedy resolution.
In view of these commitments, the UFBU announced that its planned protest programmes and strike action have been put on hold, allowing banks across the country to remain open and operate as usual on Monday.
