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Three-Day Bank Strike Deferred After Late-Night IBA-UFBU Talks
Bank unions had planned to stop work for three days starting September 28.
They wanted banks to be closed every Saturday, along with other changes to pensions, pay, and incentives.
Late on September 27, the unions met with the Indian Banks’ Association.
They agreed to postpone the strike for now.
A joint committee will study whether all remaining Saturdays can become holidays.
The sides will also discuss changes to performance-related payments for senior officers.
They will review other unresolved issues from a 2024 agreement.
Because the strike was postponed, banking services are expected to run normally on Monday.
The UFBU deferred its September 28-30 nationwide bank strike after late-night talks with the IBA.
The two sides agreed to form a committee on declaring all remaining Saturdays bank holidays.
Discussions will begin on modifying the PLI scheme for Scale IV and above officers.
Other pending issues from the March 8, 2024, minutes will be addressed for faster resolution.
Bank branches are expected to operate normally on Monday, though government approval on five-day banking remains pending.
- Who
- The United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA).
- What
- The UFBU deferred a planned three-day nationwide bank strike after the two sides reached understandings on several issues.
- Where
- The talks concerned banks across India; one report identified the meeting location as New Delhi.
- When
- The agreement was reached at 9:30 p.m. on September 27, 2026; the strike had been scheduled for September 28-30.
- Why
- The unions sought progress on a five-day banking week, changes to the PLI scheme for senior officers, and resolution of other pending service and wage-related issues.
Bank Unions’ Position
Banking Association and Government Process
Five-day banking week
Bank Unions’ Position
The UFBU wants all remaining Saturdays to become holidays and says the proposal was agreed in principle in the March 2024 settlement.
Banking Association and Government Process
The IBA agreed to create a joint committee to examine alternatives and consult stakeholders; government approval is still pending.
Performance-linked incentives
Bank Unions’ Position
Unions and associations objected to aspects of the revised PLI scheme for Scale IV and above officers and want the concerns addressed.
Banking Association and Government Process
The IBA will discuss possible modifications with the unions and may propose changes to the government.
Industrial action
Bank Unions’ Position
The UFBU had announced a three-day strike and threatened further action if its demands remained unresolved, but deferred the programme after the talks.
Banking Association and Government Process
The IBA engaged in late-night discussions and agreed to address the listed issues through further negotiations rather than an immediate strike.
Key facts
- Strike dates
- September 28-30, 2026
- Strike status
- Deferred after late-night talks
- Main union demand
- Declaring all remaining Saturdays as bank holidays
- Committee
- A joint IBA-UFBU high-level committee will examine alternatives and consult stakeholders
- PLI discussions
- The parties will discuss modifications to the scheme for Scale IV and above officers
- Pending matters
- Residual issues in the minutes dated March 8, 2024, will be discussed for expedited resolution
- Monday operations
- Banking operations are expected to run normally because the strike was deferred
Quotes
United Forum of Bank Unions (UFBU)
Federation representing bank unions involved in the strike decision
“On five-day banking, the IBA has agreed to form a high-level committee comprising representatives of the IBA and the united forum. The committee will work towards finding a solution to our demand for implementation of five-day banking and will discuss the matter with all the stakeholders.”
livemint.com
“On 27 September at 9:30 PM, there was a meeting between IBA and UFBU. After due deliberations, it was decided that: a high-level committee of IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays”
livemint.com
Sources
3-day bank strike has been deferred: Check UFBU's complete statement; decision on Saturdays as holidays, and more
Bank strike deferred as unions, IBA reach agreement
3 day bank strike deferred after late night talks between IBA and UFBU
3-Day Bank Strike Deferred After Meeting Between Banks' Association, Unions
Bank Strike Postponed: Banking Operations To Run Normally On Monday After Unions Defer Sept 28-30 Bandh
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