New Delhi: Bank unions on Sunday deferred their proposed three-day nationwide strike after reaching an understanding with the Indian Banks’ Association (IBA) following discussions on their key demands.
The decision means that banks will function normally, with employees not proceeding with the planned strike. The development followed an online meeting between representatives of bank unions and banking executives late on Sunday.
All India Bank Employees Association (AIBEA) general secretary C. H. Venkatachalam said the meeting addressed the three main demands raised by the unions, including the long-pending demand for a five-day working week.
According to Venkatachalam, it was decided to immediately constitute a high-level committee comprising representatives of the IBA and the United Forum of Bank Unions (UFBU) to deliberate on the five-day working week proposal and examine how it could be implemented.
The meeting, which lasted about an hour, was attended by seven representatives of bank unions and six banking executives.
The UFBU subsequently issued a circular stating that an understanding had been reached with the IBA on the issues discussed. On the Performance Linked Incentive (PLI) scheme for Scale IV and above officers, the unions and IBA will hold discussions to propose modifications to the government, taking into account observations made by unions and associations.
The circular also said that the residual issues listed in the minutes of the March 8, 2024 discussions would be taken up between the parties for an expedited resolution.
Devidas Tuljapurkar, chairperson of the All India Bank of Maharashtra Employees’ Federation, welcomed the outcome and said the constitution of a committee was a positive step towards examining the implementation of a five-day working week.
He also highlighted the need to consult all stakeholders, particularly customers, while considering changes to the banking work schedule.
The proposed strike had been linked to demands concerning working arrangements and other pending issues between bank employees’ organisations and management. With the latest understanding, the immediate disruption to banking services has been averted, while discussions on the outstanding demands will continue.
