Relief for consumers as nationwide bank strike deferred after crucial meet

Consumers across India heaved a sigh of relief after All-India Banks’ Employee Association (AIBEA) deferred its proposed nationwide bank strike on November 19 (today).

The decision was announced by AIBEA after its meeting with the chief labour commissioner (CLC), Ministry of Labour, Indian Banks Association (IBA), and Department of Financial Services (DFS) of the Ministry of Finance yesterday.

“Understandings reached on all issues. Hence our strike is deferred,” tweeted CH. Ventatachalam, AIBEA General Secretary.

#AIBEA CIR 498.68 - STRIKE ON 19TH NOV. DEFERRED DUE TO POSITIVE OUTCOME IN THE CONCILIATION MEETING@ChairmanIba @DFS_India pic.twitter.com/sIqOcH4M7a

— CH VENKATACHALAM (@ChVenkatachalam) November 19, 2022

At the crucial meeting, AIBEA reiterated its commitment to bilateralism and bipartism and expressed views to resolve the issues through mutual discussions. The union also expressed concern over the fact that some banks are violating the provisions agreed in the industry-level Bipartite Settlement even though their banks are a party to the BP settlements.

Meanwhile, the chief labour commissioner (CLC) advised the banks and AIBEA to discuss the issues relating to outsourcing and transfer policy at IBA level.

“Till a final decision is taken at IBA level, no unilateral action should be taken by the banks. The CLC advised the Department of Financial Services (DFS) to issue appropriate directions to all banks in regard to compliance of labour laws, particularly to ID Act 1947 and Trade Unions Act, 1926,” an official statement read.