New Delhi, September 28: The United Forum of Bank Unions (UFBU) on Sunday deferred its proposed three-day nationwide bank strike from September 28 to 30 following an eleventh-hour meeting with the Indian Banks' Association (IBA), the bank unions said.
The decision was taken after representatives of the UFBU and IBA held discussions on Sunday and reached an understanding on several pending issues.
According to a statement issued by the UFBU, a joint committee comprising representatives of the IBA and the unions will be constituted immediately to examine the demand for declaring all Saturdays as bank holidays.
The committee will consider various options, consult stakeholders and work towards finding a solution that takes into account the interests of all concerned, including bank customers, the statement said.
The two sides also agreed to initiate discussions with the IBA on changes to the Performance Linked Incentive (PLI) scheme for officers in Scale IV and above. The unions will raise their concerns on the matter with the government through the appropriate forum.
Other pending issues mentioned in the minutes of the meeting held on March 8, 2024, will also be taken up for discussions with the objective of resolving them at the earliest, the UFBU said.
In view of the understanding reached with the IBA, the UFBU said it had decided to defer its planned protests and strike action.
The development came after several public sector banks, including State Bank of India (SBI), Bank of Baroda and Punjab National Bank, opened their branches on Sunday to provide customers an additional opportunity to complete essential banking transactions ahead of the proposed strike.
The special Sunday working applied to public sector banks (PSBs) and regional rural banks (RRBs), subject to operational arrangements and availability of staff at individual branches.
The Sunday opening was part of measures taken to ensure continued availability of banking services ahead of the proposed industrial action.
The decision followed a meeting held on September 21 involving officials of the Finance Ministry, PSBs, RRBs, the IBA and NABARD.
The proposed strike had been expected to affect banking operations across the country for three days from September 28, prompting banks and authorities to make arrangements to minimise inconvenience to customers.
With the UFBU now deferring the strike, normal banking operations are expected to continue, subject to the regular working arrangements of individual banks and branches.
