Stories
Bank Strike Deferred: IBA to Discuss Five-Day Banking, PLI Scheme with Unions
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CNBC TV18•28-09-2026, 07:35
Bank Strike Deferred: IBA to Discuss Five-Day Banking, PLI Scheme with Unions
- •The three-day nationwide bank strike, scheduled for September 28-30, has been deferred after an understanding was reached between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU).
- •The agreement covers discussions on declaring all Saturdays as holidays, modifications to the Performance Linked Incentive (PLI) scheme for Scale IV and above officers, and other pending issues from March 8, 2024.
- •A high-level committee will be formed immediately to deliberate on five-day banking, examining alternatives and discussing the issue with stakeholders, including customers.
- •Discussions will commence between the IBA and unions to propose modifications to the PLI scheme, which will then be presented to the government.
- •The deferral of the strike means these issues will be addressed through continued discussions and committee work, rather than immediate implementation.
Key Questions Answered
The nationwide strike was deferred after the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU) reached an understanding on core union demands during a meeting on September 27, 2026.
Both sides agreed to immediately form a high-level committee to examine declaring the remaining Saturdays as holidays, explore all possible alternatives, and consult stakeholders including customers.
The IBA and unions will initiate discussions to propose modifications to the PLI scheme for Scale IV and above officers, which will then be presented to the government while addressing union observations.
