The three-day nationwide bank strike that was scheduled to begin on Monday, September 28 has been deferred, after the United Forum of Bank Unions (UFBU) reached an understanding with the Indian Banks' Association (IBA) in a late-night meeting on September 27. Banks will function normally on Monday as scheduled.
The breakthrough came after a meeting that began at 9:30 PM on Sunday. Following the discussions, UFBU deferred the September 28–30 strike, and the All India Bank Officers' Confederation posted on X: "Understanding reached. Strike deferred."
What was agreed
Under the understanding, a high-level committee will be constituted to discuss the union's key demand of declaring all Saturdays as holidays. The issue of performance-linked incentives (PLI) for Scale IV and above officers will also be taken up with the unions, and remaining issues from the minutes of the March 8, 2024 meeting will be discussed expeditiously, with bank-wise follow-ups by the IBA within a month.
What it means for customers
The strike call had been announced over demands including pay, recruitment and promotions, and had threatened to shut branches across the country for three days at the start of the week. Sunday's deferral means customers can bank as usual on Monday, September 28.
Note: this is a new official development following the earlier announcement that the strike would begin Monday; it supersedes that report. Readers should also note that online and mobile banking services remain unaffected in any case, and branches now open normally.
Sources: The Hindu ·Mint
The breakthrough came after a meeting that began at 9:30 PM on Sunday. Following the discussions, UFBU deferred the September 28–30 strike, and the All India Bank Officers' Confederation posted on X: "Understanding reached. Strike deferred."
What was agreed
Under the understanding, a high-level committee will be constituted to discuss the union's key demand of declaring all Saturdays as holidays. The issue of performance-linked incentives (PLI) for Scale IV and above officers will also be taken up with the unions, and remaining issues from the minutes of the March 8, 2024 meeting will be discussed expeditiously, with bank-wise follow-ups by the IBA within a month.
What it means for customers
The strike call had been announced over demands including pay, recruitment and promotions, and had threatened to shut branches across the country for three days at the start of the week. Sunday's deferral means customers can bank as usual on Monday, September 28.
Note: this is a new official development following the earlier announcement that the strike would begin Monday; it supersedes that report. Readers should also note that online and mobile banking services remain unaffected in any case, and branches now open normally.
Sources: The Hindu ·Mint
