- September 27, 2026
Bank Strike Deferred: Banking Operations To Run Normally On Monday After Unions Postpone Three-Day Protest
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The decision was taken after a meeting between the IBA and the United Forum of Bank Unions (UFBU) at 9:30 pm on Sunday.
Bank unions have deferred their proposed three-day nationwide strike after talks with the Indian Banks’ Association. (IMAGE: PTI)
Bank unions have deferred their proposed three-day nationwide strike after a late-night meeting with the Indian Banks’ Association (IBA), with the two sides agreeing to form a high-level committee to examine the demand for declaring all remaining Saturdays as holidays.
The meeting between the IBA and the United Forum of Bank Unions (UFBU) was held at 9:30 pm on Sunday, hours before the proposed strike was to begin. Following the discussions, the UFBU agreed to defer its planned agitation and strike action, according to a statement issued by the union body.
Under the agreement, the IBA-UFBU committee will immediately take up the demand for declaring the remaining Saturdays as holidays. It will examine possible alternatives and consult stakeholders to work out a solution acceptable to all concerned, particularly customers.
The two sides also agreed to begin discussions on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers. The IBA will consider proposing modifications to the scheme to the government to address concerns raised by the unions and associations.
Residual issues listed in the minutes of the March 8, 2024 meeting will also be taken up for an expedited resolution, the UFBU said.
What the strike would have affected
The strike had been scheduled to begin Monday and continue for three days, coinciding with the half-yearly closing of banks. With the strike deferred, banks will function normally on Monday.
At A Glance
Bank unions deferred a three-day nationwide strike after meeting with the Indian Banks’ Association (IBA).
The IBA and United Forum of Bank Unions (UFBU) agreed to form a high-level committee.
The committee will examine the demand for declaring all remaining Saturdays as holidays.
Discussions will also begin on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers.
The strike had been scheduled to begin Monday and continue for three days.
The proposed strike was expected to affect physical banking services such as cheque clearance, cash withdrawals and deposits, particularly at public sector banks, old-generation private sector banks and regional rural banks. Digital banking and online services were expected to remain available.
The three-day action would have followed a one-day nationwide bank strike observed on September 11. The UFBU had also threatened an indefinite strike from October 26 if its demands remained unresolved.
The unions’ key demand has been a five-day banking week, along with issues relating to pension benefits, dearness allowance for pensioners and an option for employees covered under the National Pension System to switch to the Old Pension Scheme.
The demand for a five-day banking week has remained unresolved for several years, with unions pointing to the five-day working pattern followed by several government and financial institutions.
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Ask News18The nationwide bank strike was deferred after a late-night meeting between the United Forum of Bank Unions and the Indian Banks’ Association, where both sides agreed to form a high-level committee to examine the demand for declaring all remaining Saturdays as holidays.
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Shankhyaneel Sarkar is a chief sub editor at News18. He covers international affairs, where he focuses on breaking news to in-depth analyses. He has over seven years of experience during which he has …Read More
September 27, 2026, 23:25 IST
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