Regular banking functions will proceed as usual on Monday, as bank unions cancelled their planned three-day nationwide walkout. This decision came late Sunday night following assurances from the Indian Banks' Association (IBA) that it would review their requests, which include a five-day workweek and making all Saturdays holidays. The United Forum of Bank Unions (UFBU) organised the strike, which was initially set to run from Monday through September 30.
"A high-level committee of the IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays.
This committee will explore all possible alternatives, discuss with all the stakeholders, and work out a solution acceptable to all the stakeholders, more importantly, the customers," the UFBU said in a statement late on Sunday night.
Banks Remain Closed On Two Saturdays And All Sundays
At present, banks are closed on Sundays, second and fourth Saturdays of every month.
Regarding the PLI scheme for officers of scale IV and above, it said that changes in the scheme may be proposed to the government in consultation with the IBA, taking into account the observations of the association/community.
The remaining issues mentioned in the meeting report of March 8, 2024, will be discussed between the parties for expeditious resolution, it said.
In view of the three-day strike call on Sunday, public sector banks and regional rural banks have been kept open in an attempt to minimise inconvenience to customers.
(With Inputs From PTI)