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A nationwide bank strike previously called for March 24 and 25 was put on hold by the United Forum of Bank Unions (UFBU), on Friday.
Also Read: Bank strike on March 24-25: UFBU firm on strike as talks with IBA fail
According to sources, initially, negotiations with the Indian Banks’ Association (IBA) had hit an impasse, prompting the UFBU to plan for industrial action. The bank unions have been pressing for several key issues, including recruitment drives, job security, and the implementation of a five-day working week.
The decision to put the strike on hold came after the UFBU held discussions with the Chief Labour Commissioner, earlier in the day. These talks addressed their significant demands and aimed at reaching a mutual agreement.
The united forum’s announcement will ease concerns for both banking customers as well as employees who were bracing for potential disruptions.
The UFBU, representing a coalition of several bank unions in India, plays a pivotal role in advocating for better working conditions and rights for bank employees.
Key bank unions’ demands
The UFBU's demands included adequate recruitment across all cadres, regularisation of temporary employees, implementation of a five-day banking workweek, withdrawal of government directives on performance-linked incentives, increased gratuity ceiling to Rs 25 lakh, protection against customer assaults, and halting outsourcing of permanent jobs.
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Negotiations and resolutions
During the March 21 meeting, the Department of Financial Services proposed further discussions on recruitment and PLI schemes. The Central Labour Commissioner committed to personally overseeing the five-day workweek implementation, leading to the strike puton hold. Follow-up discussions are scheduled for April 2025.
