New Delhi: The planned three-day bank strike has been deferred following late-night discussions between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) on Sunday.
The strike was scheduled to begin on Monday. Bank unions decided to defer it after reaching an understanding with the IBA over the contentious issue of declaring a five-day working week for banks.
According to a joint statement issued by the UFBA, a high-level committee comprising representatives of the IBA and UFBU will be formed immediately to deliberate on declaring the remaining Saturdays as holidays.
The committee will explore all possible alternatives and hold discussions with all stakeholders to work out a solution acceptable to everyone, particularly customers.
The development came after discussions between the bank unions and the banks’ association late on Sunday night.
The bank employees’ agitation was primarily focused on implementing a five-day banking system. Employees have maintained that keeping banks open only five days a week would provide them regular weekly holidays and help improve the balance between their professional and personal lives.
The employees are also demanding the withdrawal of the Performance Linked Incentive Scheme, citing a significant disparity in incentives between senior officers and employees at lower levels.
A conciliation meeting was held in New Delhi on September 22, 2026, under the chairmanship of the Deputy Chief Labour Commissioner. Representatives of the UFBU, IBA, DFN and bank management participated in the meeting.
However, no concrete decision was reached on the five-day banking system during the meeting. Following the failure of the talks, the unions had decided to continue with their planned strike from September 28 to 30.
The bank unions had also warned that if their demands were not addressed, they would be forced to go on an indefinite nationwide strike from October 26.
