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Indian Bank Unions Defer Three-Day Strike After Late-Night Talks

United Forum of Bank Unions calls off September 28-30 walkout after IBA agrees to form committee on five-day week demand.

Sources: News18, Livemint (Markets), Mint, The Sentinel Assam4 sources ↓|· 1 min read

KEY POINTS

  • UFBU deferred three-day strike (Sept 28-30) after late-night IBA talks on Sept 27
  • High-level committee formed to examine five-day banking week demand
  • Discussions on PLI scheme modifications for Scale IV+ officers to begin
  • Banks opened Sunday Sept 27 to mitigate service disruption
  • Indefinite strike threat remains for October 26 if demands unresolved

The United Forum of Bank Unions (UFBU) deferred a planned three-day nationwide strike hours before it was due to begin on Monday, September 28. The decision followed a late-night meeting on Sunday between UFBU leaders and the Indian Banks' Association (IBA).

Unions had demanded a five-day banking week, converting all Saturdays into holidays, and reforms to the performance-linked incentive (PLI) scheme. A one-day strike was held on September 11, and an indefinite strike remains threatened from October 26 if demands are unmet.

“Bank employees have been pushing for the five-day week for a long time.”

— Vishal Sakharkar, General Secretary, UCO Bank Officers' Association (Maharashtra and Goa)

The two sides agreed to form a high-level committee to examine the five-day week demand and initiate discussions on modifying the PLI scheme for officers in Scale IV and above. The 12th Bipartite Settlement in March 2024 had kept the five-day week demand pending.

Banks opened on Sunday, September 27 — normally a weekly holiday — to prepare for the strike and prevent five consecutive days without branch services. The sudden deferral sparked widespread social media reaction and memes about employees working a Sunday for a strike that did not happen.

Finance Ministry sources have previously dismissed claims that the government agreed to a five-day week, stating no such commitment exists. The committee's timeline and binding authority remain unspecified.

READ THE FULL STORYat News18

4 more sources below

TOPICS

#Labor#Strike

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