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Bank Strike Averted: Unions Get Assurance on Demands
27 Sep
Summary
- Bank unions deferred a nationwide strike after receiving assurances from the IBA.
- A committee will explore making all Saturdays holidays and discuss officer schemes.
- Strike postponement ensures banks will operate as usual on Monday.
Bank unions have deferred a three-day nationwide strike, initially set to begin on Monday, following assurances from the Indian Banks' Association (IBA) concerning their demands. The United Forum of Bank Unions (UFBU) cited the IBA's commitment to forming a high-level committee to address key issues.
This committee will immediately begin deliberations on designating all remaining Saturdays as holidays. It will also explore alternative solutions and engage with all stakeholders to ensure customer satisfaction. Discussions will also commence with the IBA to modify the Performance Linked Incentive (PLI) scheme for officers and resolve residual issues from previous meetings.
