Bank unions withdraw proposed strike

The proposed three-day all India bank strike from March 28 to 30 2007 was withdrawn after reconciliatory talks between the striking trade unions and the Indian Banks Association (IBA) at the Labour Ministry.

More than 10 lakh bank employees of United Forum of Bank Unions had threatened to strike unless their demands regarding a second option of pension, compassionate appointments, halting outsourcing of work and filling up vacant posts are met.

As per the agreement, the unions will give their proposal on pension before April 30 to IBA, which will work out a mutually agreed solution before June 30. On outsourcing, the IBA has asked the unions to pinpoint areas of outsourcing that they are opposed to.

While the union leaders say that they are only deferring the strike and not calling it off, the Labour Ministry officials are of view that legally the strike stands withdrawn since the unions would have to give fresh notice before announcing another strike.

The proposed strike could have paralysed the entire banking services and put customers to severe inconvenience as it would have affected financial year ending work for most of next week, since March 27 is already a bank holiday.

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