Nationwide bank strike deferred after talks between unions and association
Bank unions deferred a strike after meeting bank associations. A committee will discuss Saturday holidays and revise the PLI scheme, addressing concerns on pensions and a five-day week.
Bank unions deferred a strike after meeting bank associations. A committee will discuss Saturday holidays and revise the PLI scheme, addressing concerns on pensions and a five-day week.
Bank unions deferred a strike after meeting bank associations. A committee will discuss Saturday holidays and revise the PLI scheme, addressing concerns on pensions and a five-day week.
Barely hours ahead of the proposed nationwide bank strike, the United Forum of Bank Unions (UFBU) deferred the protest measures, following a meeting with the Indian Banks Association on Sunday night. A circular issued by the UFBU said a high-level committee of IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays. The committee will also explore and work out a solution acceptable to all stakeholders.
As regarding the PLI (Performance Linked Incentive) scheme for Scale 4 and above officers, the discussions will begin with IBA to propose modifications to the government in the scheme to address the observations of the unions and associations. The meeting was held at 9.30 pm.
The unions declared strike upholding various demands like improved pension benefits, a common dearness allowance formula for retirees, restoration of the Old Pension Scheme in place of the National Pension System, and settlement of pending service and wage-related matters.
The unions have been demanding the immediate introduction of a five-day working week, a demand that has remained pending since the wage settlement reached in 2024. They have also sought changes to the performance-linked incentive (PLI) scheme, alleging that its revision was carried out unilaterally and discriminates against some employees.