UFBU defers countrywide strike

Vijayawada, Mar 21 (UNI) The United Forum of Bank Unions (UFBU) today deferred its three-day countrywide strike, expected to start from March 28, following an understanding reached with the Centre and the Indian Banks Association (IBA) to concede to the employees' demands.

Talking to UNI, All India Bank Employees Association (AIBEA) General Secretary Venkatachalam said an understanding was reached at the meeting held with Finance Minister P Chidambaram, IBA Management and Chief Labour Commissioner in New Delhi.

He said the Centre and the IBA had agreed to sort out the demand that employees be given one more chance to opt for pension, within two months. Regarding recruitment in the banking sector, a 'need-based' recruitment would take place shortly, for improving the working conditions of existing staff, he added.

On compassionate appointments in the banking sector, Mr Venkatachalam said the government was considering the implementation of a scheme which would be favourable to the employee.

Mr Venkatachalam said further discussions would be held between the UFBU and the Centre on the withdrawal of the proposed outsourcing of banking functions, as it was a direct threat to the jobs of banking staff and also contribute to high risk.

Earlier the UFBU, comprising nine unions operating in the banking industry covering all employees, had announced that it would go on an indefinite strike from May 3, if the Centre and the IBA failed to resolve the above demands.

UNI