Nationwide strike of public sector banks called off (Bank strike ends)

The two-day nationwide strike of the public sector banks has been called off following an agreement between the banks and unions to discuss their demands. Chairman of the Indian Banks Association (IBA), M B N Rao, said that the IBA and United Forum for Bank Unions have agreed to hold discussions on the union demands.

Rao said a formal agreement to hold discussion between the two sides would be signed today and that at the discussions, the unions have agreed not to carry out their strike today and tomorrow. He also added that the detailed schedule for talks would be drawn on March 3.

According to the bank union sources, an MoU is likely to be signed between the IBA and the United Forum of Bank Unions, which had called for the strike, later today in Mumbai on various demands of employees.

The unions had last week threatened to call for a strike in the wake of merger between PSU banks. The unions were also demanding an early settlement of wage revision, second option for employees to go for pension scheme and compassionate appointment.

Earlier, a conciliatory meeting called by Chief Labour Commissioner, S K Mukopadhyay, on Friday and another by the IBA on Saturday had failed. (PTI)