Stories
Bank Strike Averted: Unions Call Off Nationwide Action After Agreement with IBA
F
Firstpost•28-09-2026, 12:19
Bank Strike Averted: Unions Call Off Nationwide Action After Agreement with IBA
- •The three-day nationwide bank strike, scheduled for September 28-30, was deferred after an agreement between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU).
- •A high-level committee will be formed with representatives from IBA and UFBU to examine the demand for a five-day banking week, which includes making all Saturdays holidays.
- •The agreement means banks will function normally, avoiding disruption during the half-yearly closing of bank accounts.
- •Discussions will also commence on the Performance Linked Incentive (PLI) scheme for officers in Scale IV and above, with proposed modifications to the government's scheme.
- •Other residual issues from previous discussions will be addressed for expeditious resolution, leading to the deferment of the strike.
Key Questions Answered
The strike was deferred after the Indian Banks’ Association and the United Forum of Bank Unions reached an understanding during a late-night meeting on Sunday to discuss union demands.
The high-level committee will examine ways to implement a five-day banking week by making remaining Saturdays holidays, while consulting stakeholders like customers to prevent inconvenience.
The discussions included reviewing modifications to the Performance-Linked Incentive scheme for Scale IV and above officers and addressing residual issues listed in the March 8, 2024 minutes for quick resolution.
