A nationwide three-day strike announced by bank employees and officers has been temporarily postponed, following a late-night understanding reached with the Indian Banks’ Association (IBA).
The strike, scheduled for September 28 to 30, was part of a second phase of agitation over demands including a five-day work week, two weekly holidays, changes to what unions describe as discriminatory actions between staff and officers, and opposition to the privatisation of IDBI Bank.
Representatives of the IBA and the United Forum of Bank Unions (UFBU) held talks that continued until midnight. After the discussions, both sides said they had arrived at an amicable agreement to take the issues forward.
As part of the outcome, a high-level committee will be formed immediately to examine ways to provide Saturdays as holidays without affecting customers and the public. The parties also agreed to pursue a resolution with the government on proposed changes related to the Performance Linked Incentive (PLI) scheme for officers, and to expedite talks on other pending demands.
With the postponement, banks across the country are expected to operate as usual today, easing concerns of disruption during the last week of the month for customers and businesses.
