Bank unions defer proposed three-day nationwide strike after IBA-UFBU talks

A high-level committee of IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays

Bhopal (Madhya Pradesh): Bank customers across the country can breathe a sigh of relief as the nationwide bank strike scheduled from September 28 to 30 has been deferred following late-night talks between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU). The decision means banking services will continue as usual, with branches remaining operational and customers able to access regular services. The bank strike 2026 was called over a range of demands, including the implementation of a five-day work week, pension-related benefits and changes concerning the National Pension System.A meeting between representatives of the IBA and UFBU was held at around 9:30 pm on Sunday to discuss the strike notice and demands raised by the bank unions.Following detailed discussions, both sides reached an agreement and consensus, after which the proposed agitation and three-day bank strike were deferred, said VK Sharma, Coordinator, United Forum of Bank Unions, Madhya Pradesh.With the September 28-30 bank strike deferred, banks across the country will remain open and function normally. Customers can avail themselves of regular banking services, including cash deposits, withdrawals and cheque-related services.The proposed nationwide bank strike was primarily aimed at pressing for the implementation of a five-day work week, with all Saturdays to be declared holidays for bank employees.Bhopal Master Plan 2047: MP Government Issued 2 Corrigendum, Corrects Green TDR & FAR ProvisionsThe UFBU had also raised demands for improvements in pension benefits and a uniform dearness allowance formula for pensioners. Another key demand was to allow employees covered under the National Pension System (NPS) to opt for the old pension scheme.As an outcome of the talks, a high-level committee comprising representatives of the IBA and UFBU will be formed immediately. The committee will examine the five-day work week demand and work out a framework for its implementation.The deferral of the bank strike 2026 comes as a relief for customers, who would otherwise have faced disruption in banking services for three consecutive days. Further decisions on the demands will depend on the discussions and recommendations of the high-level committee.Overheard In Bhopal: Dil Ke Armaan…, Heap Of Files, Away From Office, Low Profile & More

A high-level committee of the Indian Banks’ Association and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays, the statement said

Bank unions have deferred their proposed three-day nationwide strike after reaching an understanding with the Indian Banks’ Association (IBA) on forming a high-level committee to resolve their demands, the United Forum of Bank Unions (UFBU) said on Sunday.In a circular issued on September 27, as cited by ANI, the UFBU said the committee will be formed immediately to deliberate on the demand for declaring all remaining Saturdays as holidays for bank employees.The committee will examine possible alternatives, hold discussions with all stakeholders and work towards a solution acceptable to all parties, with customers’ interests given importance, the UFBU said.— ANI (@ANI) The two sides also agreed to begin discussions on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers. The discussions will consider the unions’ observations and seek to address them with the government.The residual issues listed in the minutes of a March 8, 2024 meeting between the parties will also be taken up for early resolution, according to the circular.“In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred,” the unions said.The proposed strike had been scheduled for three days from Monday and was expected to affect banking services, particularly at public sector banks, old-generation private banks and regional rural banks.The unions had called the strike primarily to press for a five-day banking week, along with demands relating to pension benefits, dearness allowance for pensioners and an option for employees covered under the National Pension System to switch to the Old Pension Scheme.A one-day nationwide bank strike was held on September 11 over the demands.The UFBU, an umbrella body representing seven bank employees’ and officers’ unions, had also threatened an indefinite strike from October 26 if the issues remained unresolved.The Finance Ministry had earlier this week appealed to bank employees to resolve the remaining issues through dialogue and keep banking services uninterrupted. It said most of the unions’ concerns had been substantially addressed and that the PLI-related demand had been put in abeyance earlier this month.