New Delhi, 28 September (H.S.): Banks are expected to remain open on Monday after the United Forum of Bank Unions (UFBU) deferred its proposed three-day nationwide strike following late-night talks with the Indian Banks' Association (IBA).

The strike was scheduled from September 28 to 30. The UFBU took the decision after a meeting with the IBA that began at 9.30 pm on Sunday.

The strike has been deferred, not cancelled. The two sides agreed to form a high-level committee to discuss the demand for declaring the remaining Saturdays as holidays and examine possible alternatives acceptable to all stakeholders, particularly customers.

Discussions will also begin on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers. The IBA will propose modifications to the government to address concerns raised by bank unions and associations, according to the UFBU.

Other pending issues mentioned in the minutes of the March 8, 2024, discussions will also be taken up for early resolution.

In view of the developments, the UFBU said its proposed agitation and strike actions would be deferred. The decision means banking services are expected to function normally on Monday, avoiding the disruption that had been anticipated across bank branches during the three-day strike.

The proposed strike was centred mainly on the demand for a five-day banking week, along with concerns relating to the PLI scheme and other pending issues. The unions had earlier announced the three-day action after discussions failed to resolve their demands.

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Hindusthan Samachar / Jun Sarkar