- Bank unions deferred their three-day strike after assurances from the Indian Banks Association
- A joint IBA-UFBU committee will be formed to discuss declaring remaining Saturdays as holidays
- The committee will explore options and seek solutions beneficial to all stakeholders and customers
Bank unions on Sunday deferred their three-day nationwide strike following assurance from the Indian Banks' Association (IBA) on their demands, including a five-day work week. The strike call beginning Monday, Sept.28, was given by the United Forum of Bank Unions (UFBU), which coincided with half-yearly closing. With the postponement of the strike, all state-run and private lenders will function as per normal working hours from Monday.
"A high-level committee of the IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays. This committee will explore all possible alternatives, discuss with all the stakeholders, and work out a solution acceptable to all the stakeholders, more importantly, the customers," the UFBU said in a statement. This means that a joint committee of the IBA and UFBU will be set up to handle the issue of declaring Saturdays as bank holidays.
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The committee will study options, talk to stakeholders, and find a solution that works for all sides, especially customers. With regards to the PLI scheme for Scale IV and above officers, the discussions can start with the IBA to propose modifications in the scheme to the government to address the observations of the unions/associations, it said.
The other pending issues as listed in the minutes dated March 8, 2024, will be discussed between the parties for expeditious resolution. In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred, it added.
State-Run Lenders Stayed Open On Sunday
Earlier, State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB) and several other public sector banks opened on Sunday, giving customers an opportunity to complete their banking work before the proposed three-day nationwide bank strike from Sept. 28 - Sept. 30. The special Sunday opening applied to public sector banks (PSBs) and regional rural banks (RRBs), following a direction aimed at ensuring the availability of regular banking services ahead of the proposed strike.
Hence, customers who needed to visit a branch for important banking work could therefore use the additional working day, subject to the operational arrangements and staffing at individual branches. The decision to open PSBs and RRBs on Sunday was taken following a meeting held on Sept. 21 between officials from the Finance Ministry, public sector banks, regional rural banks, the Indian Banks' Association (IBA) and NABARD.
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