New Delhi, Sept 28:
Bank unions have deferred their proposed three-day strike that was scheduled to begin today following an understanding reached with the Indian Banks’ Association (IBA).
The United Forum of Bank Unions (UFBU) said the decision was taken after a late-night meeting with the IBA on Sunday. A high-level committee will be formed to examine the demand for declaring the remaining Saturdays as holidays and work out a solution acceptable to all stakeholders.
The two sides also agreed to discuss modifications to the Performance Linked Incentive scheme for Scale IV and above officers, besides taking up other pending issues listed in the March 8, 2024 minutes for early resolution.
The joint committee will consider declaring the remaining Saturdays bank holidays, examine alternatives and consult stakeholders, including customers. Banks currently close on the second and fourth Saturdays of each month.