Ahmedabad: The banks that were feared to be shut on Monday opened as usual, as bank unions postponed their two-day nationwide strike, initially planned for March 24-25, after receiving positive assurances from the finance ministry and the Indian Banks’ Association (IBA) on key demands. These include implementing a five-day work week and ensuring adequate recruitment across all cadres.

The strike, called by the United Forum of Bank Unions (UFBU), which represents nine bank employee associations, was deferred following a conciliation meeting chaired by the Chief Labour Commissioner. During the meeting, IBA and finance ministry representatives assured unions that their concerns, including performance reviews and performance-linked incentives (PLI), would be reviewed.

AIBEA General Secretary CH Venkatachalam stated that all parties agreed to discuss recruitment, PLI, and other unresolved issues, with the Chief Labour Commissioner overseeing the five-day banking implementation. The next hearing is set for April 22, when the IBA will submit a progress report on UFBU’s demands. Additionally, unions are pushing for amendments to the Gratuity Act, seeking to raise the ceiling to ₹25 lakh and exempt gratuity from income tax.

The UFBU comprises major banking unions, including AIBEA, AIBOC, NCBE, AIBOA, and BEFI, representing a significant portion of the banking workforce. DeshGujarat