Three-Day Bank Strike Deferred Following Talks Between Association and Unions

The proposed three-day nationwide bank strike from September 28 to 30 has been deferred after the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) reached an understanding following talks late Sunday night. The decision came just hours before bank employees were scheduled to begin the strike. The development is expected to prevent disruption to branch banking services during a period that also coincides with the half-yearly closing of accounts.

The meeting between the IBA and UFBU was held at around 9:30 pm on Sunday. A key issue discussed was the unions’ long-standing demand for a five-day banking week, under which all Saturdays would become holidays for bank employees. Following the discussions, the two sides agreed to establish a high-level committee with representatives from both the IBA and UFBU. The committee will examine the proposal concerning the remaining working Saturdays, consider different alternatives and consult relevant stakeholders, including customers.

Bank unions have been seeking a five-day working arrangement for some time. At present, bank branches generally remain closed on the second and fourth Saturdays, while the other Saturdays are working days. The discussions also cover other issues raised by the unions, including concerns related to the Performance Linked Incentive (PLI) scheme for senior officers. Further discussions are expected on pending matters from earlier negotiations. The proposed strike had raised concerns about disruptions to services such as branch transactions, cheque processing and other physical banking operations. The timing was particularly important because September 30 marks the half-yearly closing for banks.

With the strike deferred, bank branches are expected to operate normally, although customers are advised to follow any fresh instructions issued by their respective banks. Digital banking services such as internet banking and UPI are generally separate from strike-related branch operations. The latest agreement does not mean that the unions’ demands have been fully resolved. Instead, the strike action has been deferred while the IBA and UFBU continue discussions through the proposed committee and other negotiations.