Banking unions have postponed the planned three-day nationwide strike after receiving assurances from the Indian Banks' Association (IBA) regarding their demands, including a five-day work week.
The call for a strike, which was set to begin on Monday, was initiated by the United Forum of Banking Unions (UFBU) and coincided with the semi-annual reporting period.
Thanks to the postponement, banks will operate on Monday.
In a statement, UFBU announced that a high-level committee comprising representatives from IBA and UFBU will be immediately formed to discuss the issue of declaring remaining Saturdays as holidays. This committee will examine all possible options, hold discussions with all stakeholders, and develop a solution acceptable to all participants, and more importantly, to clients.
Regarding the PLI scheme for employees at Scale IV and above, the unions noted that discussions may commence with IBA to propose changes to the government in this scheme to account for the remarks of the unions/associations.
Furthermore, it was stated that the remaining issues listed in the protocol of March 8, 2024, will be discussed between the parties for prompt resolution.
In light of the foregoing, UFBU agreed to postpone the proposed agitation programs and strike actions.
