3-day bank strike deferred, branches to open as usual today
What's the story
The proposed three-day nationwide bank strike from September 28 to 30 has been deferred. The decision comes after a meeting between the Indian Banks's Association (IBA) and the United Forum of Bank Unions (UFBU) on Sunday night. The announcement was made by the UFBU in a circular issued on September 27, following their meeting with the IBA at 9:30pm.
Agreement
High-level committee to be formed
The UFBU circular revealed that a high-level committee will be formed immediately.
The committee will have representatives from both the IBA and UFBU, and it will discuss the demand for declaring all Saturdays as holidays.
It will explore possible options, consult all stakeholders, and work toward an acceptable solution for everyone involved, including bank customers.
PLI scheme talks
Discussions on PLI scheme to begin
The UFBU and IBA have also agreed to start discussions on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers.
The IBA will propose modifications to the government, addressing observations raised by unions and associations.
The parties will also discuss other pending issues listed in the minutes of their March 8, 2024 meeting, with an aim to resolve them quickly.
Strike deferment
Why bank unions called the strike
In light of these developments, the UFBU has decided to defer its proposed agitation programs and strike actions.
The decision comes after a nationwide strike was announced from September 28-30 over several demands, including five-day banking.
Other demands included improvements in pension benefits, a uniform dearness allowance formula for all pensioners, and an option for employees under the National Pension System (NPS) to shift to the old pension scheme (OPS).
Twitter Post
Circular issued by the UFBU
Bank strike deferred after the meeting between the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU) tonight. pic.twitter.com/SPJUwp63p2
— ANI (@ANI) September 27, 2026
Scenario
What this means for customers
The Finance Ministry had warned that the September 28-30 strike could disrupt banking services, especially as it included the half-yearly closing date.
Public sector banks and regional rural ranks were asked to remain open on Sunday, September 27, giving customers an extra day to complete branch-related transactions before the planned strike.
With the strike now deferred, bank branches are expected to operate normally on Monday.
However, the unions' demands will continue to be discussed in further talks.