Bank Strike Cancel: The United Forum of Bank Unions (UFBU), an integrated body of nine bank employee unions, had called for a strike on March 24-25. The main demands of the bank employee organizations include making the working week five days and adequate recruitment in all employee cadres.
Bank Strike Cancel: Bank employee organizations on Friday postponed their two-day nationwide strike after getting positive assurances on their demands from the Finance Ministry and the IBA. According to the pre-determined schedule, the two-day strike was to start in banks across the country from Monday.
The United Forum of Bank Unions (UFBU), an integrated body of nine bank employee unions, had called for a strike on March 24-25. The main demands of the bank employee organizations include making the working week five days and adequate recruitment in all employee cadres.
Assurance received in talks with the Finance Ministry
The decision to postpone the proposed strike was taken before the Chief Labor Commissioner, who called all the parties for a conciliation meeting. Representatives of the Indian Banks Association (IBA) and the Ministry of Finance assured to consider the demands of the employee organizations.
UFBU had also demanded immediate withdrawal of the recent instructions of the Department of Financial Services (DFS) on performance review and linked incentives (PLI) of employees. The employee organization says that this instruction threatens job security and creates division among the employees.
What issues were raised in the talks?
In the meeting with IBA, all the employee unions associated with UFBU raised many important demands, including recruitment in all cadres and five-day work week. Recently, assurance has been received from the Ministry of Finance on these demands, due to which UFBU has postponed the strike.
What demands were the strike being held for?
- Vacant posts in government banks should be filled: Appointments should be made immediately on the posts of employees and officers.
- Performance review and incentive schemes should be withdrawn: Unions say that the new guidelines issued by the Department of Financial Services (DFS) are endangering job security.
- Micro-management in the functioning of banks should be stopped: UFBU alleges that the autonomy of government bank boards is being affected.
- Amendment in Gratuity Act: The limit should be increased to ₹25 lakh, so that it is equal to the scheme of government employees and it gets exemption from income tax.
- The remaining pending issues related to IBA should be resolved.
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