IDBI Bank union calls off strike, wage issues being discussed
Latest News »
- Kumar Mangalam Birla revives Applause Entertainment for content play
- Donald Trump’s business councils are disbanded after CEOs quit in protest
- US Fed sees balance sheet move soon as inflation debate heats up
- CureFit in talks to raise $25-30 million in fresh funding
- Minamata Convention comes into force, India yet to ratify it
New Delhi: Public sector IDBI Bank said a section of employees who were to go on a one-day nationwide strike on Wednesday have called it off.
“It is advised that proposed one-day nationwide strike on 12 April 2017 by united forum of IDBI officers and employees in support of their demands has been called off,” IDBI Bank said in a BSE filing.
On Tuesday, the bank had informed about a day’s strike on 12 April 2017 to press their demand related with wage issues. The association had also written a letter to finance minister Arun Jaitley, seeking his intervention in the matter.
“Yesterday there was a conciliation meeting in Mumbai held by the deputy chief labour commissioner and the management has been advised to finalise the wage revision settlement before May 8,” All India Bank Employees’ Association general secretary C. H. Venkatachalam said in a statement.
In view of this, the strike to be observed on Wednesday has been deferred and the union has decided to attend bilateral talks to explore the possibility of settlement, he said. The bank’s stock was trading 0.99% lower at Rs75.30 apiece on the Bombay Stock Exchange (BSE) on Wednesday.