The United Forum of Bank Unions (UFBU) has deferred its proposed three-day nationwide bank strike scheduled for September 28, 29 and 30, 2026, following late-night discussions with the Indian Banks’ Association (IBA) on September 27.
The decision came after an IBA-UFBU meeting held at around 9:30 PM on Sunday. The two sides reached an understanding on several pending issues, including the long-standing demand for five-day banking with all Saturdays as holidays.
High-Level Committee on Five-Day Banking
A high-level committee comprising representatives of the IBA and UFBU will be formed immediately to examine the proposal to declare the remaining Saturdays as holidays.
The committee will consider possible alternatives, consult relevant stakeholders and work towards a solution that also takes customers’ interests into account.
However, five-day banking has not yet been implemented. The committee’s formation means the issue will now move into another round of formal discussions.
Other Issues to Be Discussed
The IBA and UFBU have also agreed to discuss the Performance Linked Incentive (PLI) scheme for Scale IV and above officers. Proposed modifications may subsequently be taken up with the government.
Residual issues mentioned in the minutes of the March 8, 2024 discussions will also be considered for early resolution.
Banks to Function Normally
With the strike deferred, banks are expected to operate normally from September 28 instead of facing the proposed three-day strike. This is particularly significant because September 30 is the half-yearly closing date for banks.
The government had earlier taken contingency measures because of the proposed strike, including allowing public sector banks and Regional Rural Banks to operate on Sunday, September 27.
Strike Deferred, Demand Not Settled
The latest development does not mean that all UFBU demands have been resolved. The proposed September 28–30 strike and related agitation have been deferred, while negotiations on five-day banking and other pending matters will continue.
For bank customers, the immediate relief is that the proposed three-day disruption to branch banking has been avoided. For bank employees and unions, the next stage will depend on the outcome of the IBA-UFBU committee and subsequent discussions.
In short:
September 28–30 Bank Strike → DEFERRED
Five-Day Banking → UNDER DISCUSSION
All Saturdays Holiday → COMMITTEE TO EXAMINE
Bank Operations on September 28 → NORMAL
Further IBA-UFBU Talks → TO CONTINUE
