Indian banking sector unions call off strike on 7th, talks to continue

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bankAfter wage negotiations between United Forum of Bank Unions (UFBU) and the IBA were held in Mumbai today, it was decided that the national strike called for 7th January will be deferred while negotiations will continue.

The decision came after Indian Banks’ Association hiked its offer by 1.5 per cent to 12.5 per cent, reports stated.

Further talks are scheduled on Wednesday, 7th January. The UFBU had decided to go on strike 7th January which will be followed by four days of continuous strike Jan 21-24 and an indefinite strike from March 16 demanding early resolution of their wage-hike talks. The unions had been demanding a wage revision linked to the gross profit of the banks.

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