New Delhi: The three-day nationwide bank strike that was proposed to start today has been deferred after the United Forum of Bank Unions (UFBU) and Indian Banks’ Association (IBA) reached an agreement.
The decision came after a meeting last nite between representatives of the IBA and the UFBU, the umbrella body representing the seven bank unions, to discuss issues linked to the proposed strike.
The All India Bank Employees’ Association (AIBEA) said in a social media post that the proposed strike has been deferred following the discussions between the two sides.
Bank Strike Imminent September 28-30
The United Forum of Bank Unions and few other unions/associations representing employees of the public sector banks had earlier announced a three-day nationwide strike from September 28 to September 30.
The proposed strike was called over two main demands raised by the bank employees’ unions.
The first was to introduce a five-day banking system and the second was to withdraw the Performance Linked Incentive (PLI) scheme.
Why The Bank Strike?
Trade unions of banks have been demanding five-day working system in the banking sector. It has been a long standing demand of employee organizations who have been demanding changes in the existing working arrangement.
Unions also opposed the Performance Linked Incentive scheme and had demanded its withdrawal.
The proposed three-day strike could have disrupted banking operations across the country, especially in public sector banks. With the strike now postponed, customers are not expected to be affected by disruption, in particular because of the planned nationwide strike in September 28-30.
Next Steps
The deferral comes after discussions between the UFBU and IBA, which means the issues raised by bank unions will continue to be discussed between the two sides.
What that means for bank customers right now is that the planned three-day national strike will not go ahead as planned.
But the five-day banking demand and the Performance Linked Incentive scheme will continue to be key for staff, banks and customers.
Bottom Line
United Forum of Bank Unions and Indian Banks’ Association have come to a consensus and have postponed the planned three-day countrywide bank strike from 28th September to 30th September.
The strike was mainly against demands for five-day banking and scrapping of the Performance Linked Incentive scheme. Further developments will depend on the discussions between bank unions and the IBA.
