NEW DELHI: A nationwide three-day bank strike scheduled from September 28 to 30 has been deferred following an agreement reached between the Indian Banks’ Association (IBA) and representatives of bank employees and officers.
With the strike put on hold, banks across the country will function normally from Monday, September 28, avoiding a potential three-day disruption to banking services during the last week of the month.
The proposed strike was linked to several demands raised by bank employees’ and officers’ organisations, including a five-day banking week, changes to what the unions described as discriminatory practices between officers and employees, and opposition to the proposed privatisation of IDBI Bank.
Panel to Examine All-Saturday Holidays
One of the key developments following the discussions is the decision to constitute a high-level committee to examine the possibility of declaring all Saturdays as holidays for banks.
The committee will study various aspects of the proposal, including its implications for banking operations and customers, before further decisions are taken.
The demand for a five-day banking week has been a long-standing issue raised by bank unions. The latest agreement opens the way for the proposal to be examined at a higher level rather than being pursued through the planned strike at this stage.
PLI Issue to Be Taken Up With Government
The IBA and employee organisations also agreed to hold discussions with the government over proposed changes relating to the Performance Linked Incentive (PLI) scheme for officers.
Both sides agreed to continue discussions on the PLI issue and other pending demands with the aim of finding mutually acceptable solutions.
Following the talks, the United Forum of Bank Unions (UFBU) announced that its planned protest actions and the three-day nationwide strike would be deferred.
Relief for Customers and Businesses
The decision is expected to provide relief to customers and businesses that depend on uninterrupted banking services.
The proposed strike could have affected services including salary credits, business transactions, cheque clearing and other routine banking operations over three consecutive days.
With the strike deferred, banks are set to operate normally on September 28, 29 and 30. However, discussions on the five-day workweek, Saturday holidays, PLI and other employee demands will continue.
