New Delhi, Sept 2026 : The United Forum of Bank Unions (UFBU) on Sunday deferred its proposed three-day nationwide bank strike after reaching an understanding with the Indian Banks' Association (IBA) during an eleventh-hour meeting.
The decision came after representatives of the UFBU and IBA held discussions on Sunday and agreed to address several pending issues through structured consultations. The proposed strike had been scheduled from September 28 to September 30.
According to a statement issued by the UFBU, a joint committee comprising representatives of the IBA and the bank unions will be constituted immediately to examine the demand for declaring all Saturdays as bank holidays.
The committee will consider various options, consult stakeholders who could be affected by the proposed change and work towards a solution that takes into account the interests of all concerned, including bank customers.
The two sides also agreed to initiate discussions with the IBA on changes to the Performance Linked Incentive (PLI) scheme applicable to officers in Scale IV and above. The discussions are intended to address the concerns of senior officers and facilitate their representation before the government.
The UFBU said other pending issues listed in the minutes of the meeting held on March 8, 2024, would also be taken up for discussion with the objective of resolving them at the earliest.
Following these understandings, the UFBU decided to defer its planned protests and strike action for the time being.
The development came after public sector banks and regional rural banks had taken steps to ensure banking services remained available ahead of the proposed strike. State Bank of India, Bank of Baroda, Punjab National Bank and several other public sector banks opened their branches on Sunday to provide customers an additional opportunity to complete essential banking transactions.
The special Sunday working arrangement covered public sector banks (PSBs) and regional rural banks (RRBs). Customers requiring branch-based services were able to use the additional working day, subject to individual branches' operational arrangements and staffing availability.
The decision to open branches on Sunday followed a meeting held on September 21 involving officials from the Finance Ministry, public sector banks, regional rural banks, the IBA and the National Bank for Agriculture and Rural Development (NABARD).
The additional working day was intended to minimise inconvenience to customers in the event of the proposed three-day strike. With the UFBU now deferring the strike following its discussions with the IBA, normal banking operations are expected to continue from September 28.
The latest understanding between the bank unions and the IBA shifts the focus from industrial action to negotiations on key issues, particularly the demand for a five-day banking week, changes to the PLI scheme and other matters that have remained pending.
The joint committee on Saturday holidays is expected to examine the operational implications of the proposal and consider the concerns of different stakeholders before recommending a way forward.
The UFBU's decision to defer the strike provides the banking sector with an opportunity to pursue negotiations on the outstanding issues while avoiding disruption to banking services that could have affected customers and businesses across the country.
