India
Bank unions defer 3-day nationwide strike
The Hindu··28 Sept
Bank unions on Sunday deferred a proposed three-day nationwide strike after a late-night online meeting with bank managements. C H Venkatachalam of AIBEA said all banks will function normally now and there will be no strike. Indian Banks' Association and United Forum of Bank Unions will form a high-level committee on a five-day working week.
Prism
What It Means For You
- The strike planned from Monday was called off after Sunday night's online talks.
- Second and fourth Saturdays are already bank holidays; the committee will study declaring more Saturdays off.
- Unions said PLI discussions for Scale IV and above officers can restart with IBA to seek government modifications.
What's Happening
- Seven union representatives and six banking executives joined the hour-long meeting.
- UBFU issued a circular late Sunday announcing an understanding with IBA.
- Residual issues from minutes dated March 8, 2024 will be discussed for expeditious resolution.
What the unions sought
- Devidas Tuljapurkar said the five-day week demand had been long pending.
- He said forming a committee was a positive step to consult customers and stakeholders.
- The Hindu and Business Standard reported the deferral alongside The Hindu's Sunday night account.
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