The three-day bank strike that had been called by the members of the United Forum of Bank Unions (UFBU) in the second week of this month, has now been deferred. The strike was in demand of a wage revision in addition to other demands, such as five-day working. The strike was timed close to the Holi festival so as to cause maximum inconvenience to the banks as well as the public.
However, with the Indian Banks’ Association (IBA) agreeing to a salary increment of 15 per cent (an improvement over the last offer of 12.5 per cent), the strike, which was scheduled for 11 to 13 March, has been suspended.
The unions had been demanding a 20 per cent hike on payslip and IBA had earlier agreed to a 12.5 per cent hike only. Now, it has offered a 15 per cent hike on payslip cost.
The All India Bank Employees’ Association (AIBEA) and IBA have been discussing the issue, and assurance has been given by the IBA to look into the issues raised by the unions.
At the beginning of 2020, bank employee unions had gone on strike for two days to draw attention to their issues and demands. The workers’ unions had threatened to go on an indefinite strike in April, if their demands were not met.
Had the strike taken place as planned, banks in the country would have been closed for about 16 days in the month of March, given the long list of national holidays.