Bank Strike Postponed: There is welcome news for bank customers. The proposed three-day nationwide bank strike, scheduled for September 28–30, 2026, has been called off. An agreement to withdraw the strike was reached following a meeting between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) on Sunday night. Consequently, normal banking operations will continue from Monday.
According to UFBU Circular No. 2026/31, a meeting took place between IBA and UFBU representatives around 9:30 PM on Sunday. Various pending demands and issues concerning bank employees were discussed in detail. Following the talks, a consensus was reached, leading to the decision to withdraw the proposed strike.
High-level committee to be formed on five-day banking
It was agreed during the meeting to constitute a high-level committee comprising the IBA and UFBU to consider the demand for declaring all Saturdays as official holidays. The committee will seek a mutually acceptable solution to this issue, keeping in mind the interests of all stakeholders as well as the convenience of bank customers.
Discussions on changes to the PLI scheme
Objections raised by the unions regarding the Performance Linked Incentive (PLI) scheme—applicable to bank officers at Scale IV and above—will also be discussed. As per the agreement, necessary amendments to the PLI scheme will be considered, and a proposal will subsequently be submitted to the government.
Talks on pending issues to continue
An agreement was also reached to continue negotiations to resolve other pending issues recorded in the minutes dated March 8, 2024. Both parties will hold further discussions aimed at resolving these matters expeditiously.
The circular issued after the meeting bears the names of C.H. Venkatachalam (AIBEA), Rupam Roy (AIBOC), and L. Name incomplete. It bears the signatures of various bank union leaders, including Chandrashekhar, Sanjay Khan (AIBOA), Debashish Basu Chowdhury (BEFI), Prem Makkar (INBOC), and O.P. Sharma (INBEF). It has been stated that a detailed circular regarding the meeting will be issued soon.
Banks could have remained closed for five consecutive days.
The UFBU had called for a three-day nationwide bank strike from September 28 to September 30, 2026. Prior to this, September 26 and 27 were scheduled holidays (Saturday and Sunday). Consequently, there was a possibility that banking services would be disrupted for five consecutive days.
To address customer inconvenience, arrangements were made to keep banks open on Sunday, September 27, enabling people to complete essential banking tasks. Now that the three-day strike has been called off, banking services will resume as usual starting Monday.
