Summary of this article
Three-day bank strike from September 28 has been deferred.
IBA-UFBU committee will examine the five-day banking demand.
Bank branches are expected to be open today.
The three-day nationwide bank strike planned for September 28 to 30 will not take place after the United Forum of Bank Unions (UFBU) and Indian Banks’ Association (IBA) reached an understanding late Sunday night.
The decision came after a meeting between representatives of the two sides at 9:30 pm on September 27. The UFBU subsequently announced that its planned agitation and strike had been deferred.
For bank customers, this means branch operations are scheduled to run normally from Monday, September 28. Public sector banks (PSBs) and Regional Rural Banks (RRBs) had also operated on Sunday as part of an arrangement made before the proposed strike.
Five-Day Work Week Demand Gets Fresh Push
One of the key issues behind the proposed strike was the long-standing demand to introduce a five-day banking week.
Under the understanding reached on Sunday, a high-level committee comprising representatives of the IBA and UFBU will be set up to examine the issue.
The committee will consider different options for declaring the remaining Saturdays as holidays. It will also consult stakeholders before working towards a solution. The issue has therefore moved from the proposed strike action to further discussions between bank management and employee unions.
Union Raises PLI Concerns With IBA
The Performance Linked Incentive (PLI) scheme for officers in Scale IV and above is another matter covered in the understanding.
The UFBU has proposed discussions with the IBA on changes to the scheme. The objective will be to address concerns raised by unions and associations before any proposal is taken up with the government.
Other unresolved matters from discussions held in March 2024 will also be taken up by the two sides. The UFBU has linked these developments to its decision to defer the proposed agitation and strike.
SBI Branches Set For Normal Monday Operations
Customers of State Bank of India (SBI) and other PSBs can expect normal branch services on Monday, September 28, as the proposed strike has been deferred. The same applies to Regional Rural Banks (RRBs), which were among the institutions covered by the earlier strike call.
Sunday operations had been arranged specifically to help customers manage banking requirements before the proposed three-day disruption.
HDFC Bank Services Unaffected By Strike Deferral
HDFC Bank is a private-sector lender and was not part of the public sector bank strike arrangement. The bank had informed customers that its branches would operate on Sunday, September 27, and had also scheduled normal banking services for September 28 to 30.
With the UFBU strike now deferred, customers across participating banks can access branch services on Monday without the disruption that had been expected from the proposed industrial action.
