Bank unions defer June 27 strike as IBA agrees to initiate talks

Bank unions on Thursday deferred their proposed June 27 strike as Indian Banks' Association (IBA) agreed to initiate negotiation talks on their demands.

The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had threaten to go on strike to press for issues related to pension and the demand for five-days-a-week work.

As per the agreement with IBA, the negotiation talks on various pending issues would begin on July 1, AIBEA general secretary C H Venkatachalam said after a meeting held under the chairmanship of Chief Labour Commissioner.

Other demands included an updation and revision of pension for all pensioners and doing away with the national pension scheme and restoring the old pension scheme for all bank employees.