March 12, 2026 09:40 pm (IST)
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Bank strike from Feb 25 called off
Mumbai, Feb 23 (IBNS) Employees unions of public sector banks on Monday called off their proposed four-day strike after reaching agreement on a 15 percent wage increase.
"In today's talks, wage revision settled at 15 per cent with effect from November 2012," United Forum of Bank Unions (UFBU) Convener M V Murali said.
The UFBU had called for a strike from February 25 to press for its demands,including higher wages and a five-day work week.
Following the agreement reached between UFBU and and Indian Banks Association (IBA) bank employees will now also get holidays on two Saturdays in a month.
The wage revision of public sector bank employees has been due from November 2012.
Unions reached the wage settlement after 18 rounds of negotiations over more than two years.
The new wage scale will be valid for five years from November 2012.
There are 27 public sector banks in the country with about 8 lakh employees.
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