Industry Odisha Bureau, Sep 28: The UFBU has deferred a proposed three-day strike. It follows talks with the Indian Banks’ Association. A high-level committee will now examine the demand for a five-day banking week.*
India’s bank unions have stepped back from immediate industrial action. The United Forum of Bank Unions (UFBU) has deferred its three-day nationwide strike. The decision follows talks with the Indian Banks’ Association (IBA). Both sides reached an understanding on September 27, the UFBU said.
At the centre of the understanding is a new high-level committee. The UFBU said the panel would be formed immediately. The umbrella body represents seven bank employees’ and officers’ unions.
The Saturday question
A five-day banking week remains the unions’ central demand. That would mean declaring all remaining Saturdays as holidays for bank employees. The committee will now deliberate on that demand.
It will examine possible alternatives and consult all stakeholders. The stated aim is a solution acceptable to every party. Customers’ interests will also be given importance, according to the UFBU.
No approval for a five-day week has been announced. No timeline for the committee’s work has been set out either.
Incentives and older disputes
The talks also opened a second track on pay-related concerns. The two sides agreed to discuss the Performance Linked Incentive (PLI) scheme. The issue concerns officers in Scale IV and above. Those discussions will weigh the unions’ observations. The parties will then seek to address them with the government.
Residual issues from a March 8, 2024 meeting also remain open. They were listed in the minutes of that meeting. The parties agreed to take them up for early resolution.
Pension questions sit alongside these matters. Unions have raised demands on pension benefits and dearness allowance for pensioners. They also want an option for National Pension System (NPS) members. Such employees would be able to switch to the Old Pension Scheme (OPS). None of these demands has been accepted.
Pressure before the pause
The deferral comes after sustained pressure from the unions. A one-day nationwide bank strike was held on September 11. It was called over the same set of demands.
The UFBU had also threatened an indefinite strike from October 26. That threat was tied to the issues remaining unresolved.
The three-day bank strike had been due to begin on Monday. It was expected to affect services mainly at three types of lender. These were public sector banks, old-generation private banks and regional rural banks.
The ministry’s position
The Finance Ministry had urged bank employees to pursue dialogue. It appealed for banking services to continue without interruption. The ministry said most union concerns had been substantially addressed. It added that the PLI-related demand was put in abeyance earlier this month.
The unions’ continuing demands suggest several issues remain contested. The latest understanding places those disputes back within formal negotiations.
What happens next
The immediate prospect of a three-day walkout has eased. The UFBU has described the action as deferred. The underlying bank employee demands are still unresolved.
Much now depends on how quickly the committee begins its work. Its handling of the Saturday question will shape the next phase of talks. For now, the dispute has moved from the picket line to the bargaining table.
