The proposed three-day nationwide bank strike scheduled from September 28 to 30, 2026, has been deferred following late-night discussions between the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA).
In a circular issued on Sunday night (September 27), the UFBU announced that understandings had been reached on key demands. As a result, all planned agitational programmes and strike actions stand deferred. Banks across the country, including public sector banks, old-generation private banks, and regional rural banks, will function normally.
Five-Day Banking Week / All Saturdays as Holidays:A high-level committee comprising representatives of the IBA and UFBU will be formed immediately. The committee will deliberate on declaring the remaining Saturdays as holidays, explore possible alternatives, consult all stakeholders (including customers), and work towards a solution acceptable to everyone. Currently, banks are closed only on the second and fourth Saturdays.
Performance Linked Incentive (PLI) Scheme:Discussions will begin on the PLI scheme for Scale IV and above officers. The IBA will propose modifications to the Government to address observations raised by the unions and associations
Residual Issues:Pending matters listed in the minutes of the March 8, 2024 meeting will be taken up for expeditious resolution.
UFBU leaders described the developments as a forward movement, while emphasising that the deferment is not an abandonment of their demands. The unions had earlier warned of an indefinite strike from October 26 if progress was not made.
The UFBU, an umbrella body of major bank employees’ and officers’ unions, had served notice for the three-day strike to press for the implementation of a five-day banking week (as discussed in earlier settlements), changes to the unilaterally introduced PLI framework, and settlement of residual issues. The proposed strike would have coincided with the half-yearly closing of accounts, potentially disrupting banking services for customers.
The Finance Ministry had earlier encouraged dialogue to address unresolved issues while ensuring uninterrupted services.
With the strike deferred, banking services will continue as usual from September 28 onwards. Customers need not worry about branch closures or delays in transactions related to the half-yearly closing.
This late-night breakthrough brings temporary relief to millions of bank customers and employees. Further updates are expected as the high-level committee begins its work and discussions on the PLI scheme and residual issues progress.
