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Bank Strike Off: Unions Defer Nationwide Action After IBA Assurance on Key Demands
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CNBC TV18•28-09-2026, 09:11
Bank Strike Off: Unions Defer Nationwide Action After IBA Assurance on Key Demands
- •Banking sector unions postponed their three-day nationwide strike after the Indian Banks' Association (IBA) committed to addressing key demands, including a five-day workweek.
- •The United Forum of Bank Unions (UFBU) had planned the strike to coincide with the half-yearly financial closing period, but banks will now operate normally on Monday.
- •A high-level committee will be formed by the IBA and UFBU to discuss declaring remaining Saturdays as holidays, exploring solutions acceptable to all stakeholders, especially customers.
- •Discussions will also begin with the IBA regarding proposed amendments to the Performance Linked Incentive (PLI) scheme for Scale IV and above officers.
- •The UFBU had announced the strike over demands for a five-day banking week, filling vacant positions, and resolving pension-related concerns, representing approximately 90% of the banking sector's workforce.
Key Questions Answered
Banking sector unions postponed their strike after receiving commitments and assurances from the Indian Banks' Association (IBA) to deliberate on key demands, including the implementation of a five-day workweek.
The high-level committee was formed to deliberate on declaring the remaining Saturdays as holidays by exploring alternatives, consulting stakeholders, and working out customer-friendly solutions.
The strike was called over demands for a five-day banking week, filling vacant positions, resolving pension concerns, and opposing a separate Performance Linked Incentive scheme for senior management.
