Nationwide bank strike suspended after unions and IBA talks
Business
The big nationwide bank strike planned for September 28 is off for now.
Bank unions and the Indian Banks's Association (IBA) had some productive talks, agreeing to set up a committee to tackle key issues.
But if things don't get sorted, unions say they might go for an indefinite strike from October 26.
Unions demand 5-day week, fair PLI
Unions want banks to switch to a five-day workweek (like several government and financial institutions), fix the Performance Linked Incentive (PLI) scheme so it's fairer for everyone, not just top officers, and improve pensions and employee benefits.
Some progress has been made, but several points are still up in the air and will be discussed in upcoming meetings.
If there's no solid agreement soon, that bigger strike is still on the table.