3-day bank strike deferred after talks, panel to examine all Saturdays as holidays

Bank unions have deferred their three-day nationwide strike scheduled to begin on Monday after talks with the Indian Banks’ Association (IBA). Banks will function as usual on September 28.The United Forum of Bank Unions (UFBU) announced the decision on Sunday night after the IBA agreed to set up a high-level committee to examine its demand for a five-day working week.The strike, planned for September 28 to 30, would have coincided with the half-yearly closing of bank accounts.The committee will consider making the remaining Saturdays bank holidays, examine other options and consult stakeholders, including customers. Banks currently close on the second and fourth Saturdays of each month. The talks have not yet resulted in a five-day banking week. The UFBU’s circular does not set a deadline for the committee to reach a decision.The two sides will also discuss the performance-linked incentive scheme for officers in Scale IV and above. The IBA will propose changes to the government’s scheme to address the unions’ objections. The UFBU had called the strike primarily to press for all Saturdays off, citing long working hours. It says the demand has been under discussion for more than two years. Government sources have maintained that a five-day week was neither agreed to nor included in earlier wage negotiations.The Finance Ministry had urged employees not to strike, warning of disruption to banking services. The UFBU has now deferred its proposed strike and other agitation programmes. It has not announced a new strike date.- Ends