3-day bank strike deferred after talks with unions

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Five-day banking remains key demand; PLI scheme already kept in abeyance by government

Chandigarh, September 28

The proposed three-day nationwide bank strike from September 28 to 30 has been deferred following discussions between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU), even as the demand for a five-day banking week remains under consideration.

The strike had been called over several demands, with the five-day banking week being the principal issue. Bank unions have been seeking holidays on all Saturdays. At present, the second and fourth Saturdays are holidays, while the remaining Saturdays are working days.

The Centre has already kept the Performance Linked Incentive (PLI) scheme in abeyance, according to the Ministry of Finance. In a statement issued on September 21, the ministry said, “The government, after detailed discussion, decided to keep the PLI scheme in abeyance.”

On the demand for a five-day banking week, the ministry said the issue “continues to be examined”.

The Ministry of Finance said the Centre had held several rounds of discussions with the unions on the outstanding issues. It said the government remained committed to addressing the concerns of bank employees through dialogue and constructive engagement.

The ministry had also highlighted the potential impact of the proposed strike as September 30 is the half-yearly closing date for banks, involving reconciliation, provisioning and treasury and market operations.

In view of the proposed strike, the Centre had arranged for public sector banks and regional rural banks to remain open on Sunday, September 27, to facilitate banking services. The Reserve Bank of India had permitted bank branches, offices, ATM-linked branches and currency chests to function on the day.

The All India Bank Employees’ Association (AIBEA), in its account of the conciliation proceedings held on September 9, said the Department of Financial Services had informed the unions that the five-day banking proposal was still under consideration.

The unions had earlier observed a nationwide strike on September 11 over their demands and subsequently announced the three-day strike from September 28 to 30.

With the latest understanding between the IBA and UFBU, the proposed three-day strike will not take place as scheduled. However, five-day banking has not yet been approved by the Centre, and the issue remains under consideration.