Bank unions on Sunday (September 28, 2026) deferred the proposed three-day nationwide strike after a meeting with bank managements.

“All banks will function normally now. There will be no strike. We had three main demands. Discussion was held on all of them in a meeting held at 9.30 pm today (Sunday). One of them was for a five-day working week. Decision has been taken to immediately form a high-level committee of IBA and UFBU to deliberate on the issue and to see how it can be implemented,” C. H. Venkatachalam, general secretary of All India Bank Employees Association (AIBEA) told The Hindu.

Seven representatives of the bank unions and six banking executives were present for the online meeting that lasted about an hour.

United Forum of Bank Unions (UBFU) issued a circular late on Sunday night announcing that an understanding had been reached with Indian Banks’ Association.

“As regards the PLI Scheme for Scale IV and above officers, the discussions can start with IBA to propose modifications to the Government in the scheme to address the observations of the Unions/ Associations. The residual issues as listed in the minutes dated 8.3.2024 will be discussed between the parties for expeditious resolution,” the UBFU circular said.

Devidas Tuljapurkar, chairperson of All India Bank of Maharashtra Employees’ Federation, expressed satisfaction over the meeting’s outcome. “The demand for a five-day week has been long pending. By accepting to form a committee, a positive step has been taken to find out how it can be implemented in consultation with all stakeholders, particularly the customers, so that they are not inconvenienced,” he told The Hindu.

The United Forum of Bank Unions (UBFU) called off the proposed three-day strike nationwide strike, beginning Sunday (September 27, 2026), after it said an agreement was reached with the Indian Banks’ Association (IBA) on its demands, including a five-day work week.

With the postponement of the strike, banks would function on Monday (September 28, 2026).

Both parties agreed to form a high-level committee to deliberate on the issue of declaring the remaining Saturdays as holidays. According to a circular, the IBA and UFBU had a meeting at 9:30 p.m. in which the decision was made.

“This committee will explore, all possible alternatives; discuss with all stakeholders, and work out a solution acceptable to all stakeholders and, more importantly, the customers,” the UFBU said.

As regards the PLI scheme for Scale IV and above officers, the discussions can start with the IBA to propose modifications in the scheme to the government to address the observations of the unions/associations, it said.

The residual issues as listed in the minutes dated March 8, 2024, will be discussed between the parties for expeditious resolution, it said.

In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred, it added.

With PTI inputs