Bank Unions Postpone Strike After Talks with IBA, Govt
Bank unions postpone March 24-25 strike after discussions with IBA and the government on key demands, including a five-day workweek. Next hearing on April 22.
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The United Forum of Bank Unions (UFBU) has deferred its planned nationwide bank strike initially scheduled for Monday and Tuesday. This decision follows discussions with the Indian Banks' Association (IBA) and the Finance Ministry, where unions sought commitments on various demands, including the implementation of a five-day workweek for banks.
During a conciliation meeting with the Chief Labour Commissioner, UFBU, which represents nine bank employees' associations, raised concerns over the Department of Financial Services (DFS) directives related to performance reviews and performance-linked incentives. The unions emphasized the need for job security and employee welfare.
IBA has agreed to further deliberations on key matters, including recruitment policies, performance-linked incentives, and other employment-related concerns. The Chief Labour Commissioner has assured continued oversight on the progress of the five-day workweek demand. "IBA has assured discussions on recruitment, PLI, and other critical concerns, while the Chief Labour Commissioner will monitor the five-day banking workweek implementation," said C H Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), as reported by PTI.
AIBEA is a part of UFBU along with organizations such as the All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA), and the Bank Employees' Confederation of India (BEFI). The next hearing is scheduled for April 22, where IBA is expected to provide an update on UFBU's demands.
Banking operations in India follow a schedule where all banks remain closed on the second and fourth Saturdays, Sundays, and designated national and regional holidays. The Reserve Bank of India (RBI) issues an official holiday calendar annually, ensuring clarity on operational days. While branch services remain suspended during holidays, customers continue to have access to online banking, ATMs, and mobile banking facilities.
