Stories
Bank Strike Deferred: IBA and UFBU Reach Agreement, Avert Three-Day Nationwide Disruption
- •The proposed three-day nationwide bank strike, scheduled from September 28 to 30, has been deferred following a meeting between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU).
- •A high-level committee will be formed immediately to discuss the demand for declaring remaining Saturdays as holidays and explore alternatives acceptable to all stakeholders.
- •Discussions will commence on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers, with IBA proposing modifications to the government.
- •Residual issues from the minutes dated March 8, 2024, will also be addressed for early resolution.
- •UFBU had previously announced the strike due to unfulfilled commitments regarding a five-day banking week and the unilateral implementation of the new Performance Linked Incentive scheme.
Key Questions Answered
The nationwide bank strike, originally planned from September 28 to 30, was deferred following a meeting between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) late on September 27, 2026. Both sides agreed to form a high-level committee to resolve pending issues, including declaring remaining Saturdays as holidays and reviewing the Performance Linked Incentive scheme.
The primary demands include implementing a five-day banking week with Saturday and Sunday as weekly holidays, and the withdrawal or modification of the unilaterally implemented Performance Linked Incentive (PLI) scheme for Scale IV and above officers. Unions argued that commitments made in previous agreements over two-and-a-half years ago remained unfulfilled, compelling them to resort to industrial action.
A high-level committee comprising representatives from both the IBA and the UFBU will be formed immediately to examine the demand for declaring remaining Saturdays as holidays. This committee will explore alternative solutions to reach a consensus that remains acceptable to all stakeholders and bank customers.
