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IBA Forms High-Level Committee to Discuss 5-Day Banking with Unions
M
Moneycontrol•29-09-2026, 17:49
IBA Forms High-Level Committee to Discuss 5-Day Banking with Unions
- •The Indian Banks’ Association (IBA) has formed a high-level committee to discuss implementing a five-day banking week with bank unions.
- •The committee includes representatives from both the IBA and the United Forum of Bank Unions (UFBU), with Rajneesh Karnatak of Bank of India as chairman.
- •The primary focus of discussions will be making all Saturdays holidays, in addition to Sundays, a key demand that led to a deferred nationwide bank strike.
- •The formation of the committee provides a formal mechanism for negotiations, but five-day banking is not yet implemented, and the current Saturday holiday arrangement continues.
- •The bank strike, planned for September 28-30, was deferred after an agreement to pursue discussions through this newly formed committee.
Key Questions Answered
The nationwide strike was deferred following late-night discussions between the Indian Banks’ Association and the United Forum of Bank Unions on September 27, 2026, where both sides agreed to resolve issues through a newly formed high-level committee.
No final decision or implementation date has been announced yet. The constitution of the high-level committee does not mean five-day banking has been implemented, so the existing Saturday holiday arrangement continues for now.
Rajneesh Karnatak, Managing Director and Chief Executive Officer of the Bank of India, has been nominated as the chairman of the high-level committee representing the IBA.
