Bank unions have decided to postpone their planned nationwide strike on March 24 and 25 following positive developments in their negotiations with the Indian Banks’ Association (IBA) and the Department of Financial Services (DFS).
The adjourned conciliation meeting, held earlier today, saw serious discussions on key demands, including the introduction of a five-day workweek for banks, recruitment concerns, and performance-linked incentives (PLI).
Officials from the IBA and DFS participated, with the DFS joint secretary addressing the meeting via video call. He conveyed that the Finance Minister and the DFS secretary had engaged in positive discussions on the five-day banking proposal.
The Chief Labour Commissioner (CLC), who presided over the conciliation, assured that he would directly monitor the implementation of key issues, including the five-day banking demand.
Given this assurance and the willingness of the IBA to hold further talks on recruitment and other pending matters, the meeting was adjourned to the third week of April for further deliberations. In light of these developments, the United Forum of Bank Unions (UFBU) announced that the planned strike would be deferred for a month or two.
A detailed circular on the discussions and the next course of action will be issued soon, the union said. The postponement comes as a relief to customers and the banking sector, which had been bracing for disruptions due to the strike. However, unions have indicated that they will continue to push for their demands in the upcoming negotiations.