Bank Unions Postpone Nationwide Strike Following IBA Agreement
Bank unions have called off a planned three-day strike after reaching an agreement with the Indian Banks' Association.
Bank unions deferred the strike after discussions with management.
A high-level committee will be formed to explore a five-day work week.
The United Forum of Bank Unions announced the agreement late Sunday.
On September 27, 2026, bank unions announced the postponement of a proposed three-day nationwide strike after a productive meeting with banking management. The decision came following a late-night discussion where union representatives and bank executives addressed key issues, including the demand for a five-day working week. C. H. Venkatachalam, the general secretary of the All India Bank Employees Association, confirmed that all banks would operate normally and that discussions on the main demands were fruitful.
The meeting, which lasted approximately one hour, included seven representatives from the bank unions and six executives from the banking sector. The United Forum of Bank Unions (UBFU) issued a circular indicating that an understanding had been reached with the Indian Banks' Association (IBA). This agreement marks a significant step towards addressing the unions' concerns and improving working conditions for bank employees.
Among the topics discussed was the Performance Linked Incentive (PLI) Scheme for officers at Scale IV and above. The UBFU stated that discussions would commence with the IBA to propose modifications to the government regarding the scheme, aiming to incorporate the unions' observations. Additionally, residual issues identified in previous meetings will be addressed to ensure a swift resolution.
Devidas Tuljapurkar, chairperson of the All India Bank of Maharashtra Employees’ Federation, expressed his satisfaction with the outcome of the meeting. He emphasized that the demand for a five-day work week has been longstanding and that the formation of a committee represents a positive step towards its implementation. He noted the importance of consulting all stakeholders, especially customers, to minimize any inconvenience during the transition.
Looking ahead, the formation of the high-level committee is expected to take place soon, with discussions on the five-day work week and other outstanding issues likely to commence shortly. The unions remain hopeful that these developments will lead to improved working conditions and a more balanced work-life scenario for bank employees across the country.
