The proposed three-day nationwide bank strike from September 28 to 30 has been deferred, the United Forum of Bank Unions (UFBU) said in a statement on Sunday, September 27, as per ANI.
The three-day bank strike from September 28 to 30 has been deferred as UFBU and IBA begin talks on Saturday holidays. (AI generated Representational Image )
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The decision came after a meeting between the Indian Banks’ Association (IBA) and UFBU at 9:30 pm on Sunday. The two sides discussed the long-pending demand to make all Saturdays holidays for bank employees, along with other issues raised by the unions.
The UFBU said the decision followed an assurance from the IBA on the unions’ demands, as per PTI. A high-level committee of the IBA and UFBU will now be formed to discuss the demand for declaring the remaining Saturdays as holidays.
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The committee will look at possible options and hold discussions with all stakeholders. It will also work towards a solution that is acceptable to everyone, with the interests of bank customers also being considered.
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The committee will look at possible options and hold discussions with all stakeholders. It will also work towards a solution that is acceptable to everyone, with the interests of bank customers also being considered.
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The demand for a five-day banking week has been pending for some time. Under the current system, banks are closed on the second and fourth Saturdays of every month. Bank unions have been seeking holidays on all Saturdays.
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The issue was part of the March 2024 wage settlement, but the proposal has been awaiting further action.
The Performance Linked Incentive scheme for Scale IV and above officers is another issue that bank unions have raised.
According to the UFBU statement, discussions on the PLI scheme can now begin with the IBA. The unions and associations want changes to the scheme to address their concerns before any proposal is sent to the government.
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UFBU also said the parties will discuss other pending issues listed in the minutes of the March 8, 2024 discussions.
These talks are expected to focus on resolving the remaining matters as soon as possible.
Will banks remain open on September 28?
Yes, with the strike deferred, banks are expected to function on Monday, September 28.
The strike was scheduled to begin on Monday and would have coincided with the half-yearly closing period for banks. The proposed three-day action had raised concerns about possible delays in banking services and transactions.
On Sunday, several bank branches had also opened to help customers complete transactions before the planned three-day closure. ANI reported that the Sunday openings were aimed at helping customers clear pending work ahead of the strike.
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The UFBU has now deferred the planned agitation and strike action following the latest discussions with the IBA.
This means there will be no three-day nationwide bank strike from September 28 to 30 at this stage. The focus will now shift to the committee and further talks between the IBA and bank unions over the five-day work week, Saturday holidays, the PLI scheme and other pending demands.
Deep Dive
Why was the nationwide bank strike from September 28 to 30 deferred?
The nationwide bank strike was deferred after discussions between the Indian Banks’ Association and the United Forum of Bank Unions, mainly addressing demands like making all Saturdays holidays for bank employees.
What demands are bank unions advocating for that led to the proposed strike?
Bank unions are advocating for a five-day working week, withdrawal of the Performance Linked Incentive (PLI) scheme, and changes to pension benefits among other pending issues.
How will banking services be affected during the strike period if it proceeds?
If the strike proceeds, customers may experience delays in services such as cheque clearance, cash deposits, and withdrawals, especially at public sector banks, although digital banking services are expected to remain available.
Sehjal Gupta is a Chief Content Producer at Hindustan Times and is part of the US Desk. She covers a wide range of stories from the United States, including politics, sports, entertainment, breaking news, and major global developments. She enjoys working across different beats because every story brings a fresh perspective and an opportunity to explore something different. Before joining Hindustan Times, Sehjal was part of The Times of India, where she headed the International Sports and US Streamers team. She reported on international sports, athlete stories, streamer news, and major developments from around the world. The role gave her the opportunity to work on a diverse range of stories while leading coverage across two evolving news categories. She holds a Bachelor of Business Administration (BBA) and believes the experience taught her the importance of staying organised, managing priorities, and adapting to new challenges. Over the years, she has reported on a variety of topics and enjoys taking on stories that keep her curious and encourage her to look beyond the obvious. Expertise: International news, International/US sports, and streamer coverage. Interests: Global affairs, geopolitics, politics, and entertainment. Outside work, Sehjal loves travelling, watching movies, and exploring new places to eat. She enjoys discovering new cultures and believes that some of the best stories and experiences come from stepping outside her comfort zone and exploring unfamiliar places.
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