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Bank strike deferred after AIBEA meeting with chief labour commissioner

Bank strike deferred after AIBEA meeting with chief labour commissioner

Bank strike deferred after AIBEA meeting with chief labour commissioner
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By CNBCTV18.com Nov 19, 2022 1:02:44 PM IST (Published)

Bankers had threatened to go on strike protesting against issues like layoffs, outsourcing, and delays in implementing wage revisions, among others.

The country-wide bank strike that was supposed to start today morning has been deferred after the bank unions met with the Chief Labour Commissioner on Friday. Members of the All India Bank Employees Association met the Chief Labour Commissioner (CLC), the Ministry of Labour, the Indian Banks Association (IBA), and the Department of Financial Services (DFS) of the Ministry of Finance, and both sides reached a consensus on contentious issues.

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AIBEA members met bank officials in Mumbai on November 16, where no solution was found. Union representatives had met officials from 11 banks who they alleged were victimising union members.
“Understandings reached on all issues. IBA and banks agreed to resolve the issues bilaterally. Hence our strike is deferred," CH Venkatachalam, General Secretary AIBEA told Moneycontrol on Friday.
“This is to inform you all that the proposed All India Bank Strike to be held tomorrow 19th November 2022, has been deferred as understanding has been reached,” according to a statement from AIBEA.
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Bank employees had threatened to go on strike protesting against issues like layoffs, outsourcing, and delays in implementing wage revisions, among others. Unions had stated that banks were acting against bipartite settlements and bank-level settlements. They had also added that banks were being vindictive by punishing bankers who were union members.
“Our Union is pleading with the bank to discuss and sort out the issue but management is refusing to discuss it with the union and thus, the jobs of our employees are hanging under Damocles's sword. If our job security is threatened, what else we can do than fight back," said Venkatachalam.
 
However, with concessions reached during talks yesterday, the strike has been called off. However, several bankers have been disappointed by the lack of action from the union at the last hour. Many bankers replied to Venkatachalam on Twitter expressing their ire at the lack of results.
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