Bank unions defer 2-day nationwide strike after govt, IBA assurance

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Bank unions defer 2-day nationwide strike after govt, IBA assurance - Business Standard

Quick Summary:

Bank unions on Friday deferred their two-day nationwide strike beginning Monday after they received positive assurance from both the finance ministry and the IBA on their demands, including a five-day work week and adequate recruitment in all cadres.

The strike call for March 24 and 25 was given by United Forum of Bank Unions (UFBU), an umbrella organisation of nine bank employees' association.

The UFBU had also demanded immediate withdrawal of the recent directives of the Department of Financial Services (DFS) on performance review and performance-linked incentives (PLI), which threaten job security and create division amongst employees.