Bank Unions Postpone Nationwide Strike After Talks with Indian Banks’ Association
Strike Deferred Following Productive Discussions
A file image of bank officials protest outside the SBI headquarters in Dispur.
New Delhi, Sept 28: The United Forum of Bank Unions (UFBU) has decided to postpone its planned three-day nationwide strike, which was set to begin next week, after a last-minute meeting with the Indian Banks’ Association (IBA). A statement from the bank union indicated that discussions took place on Sunday, leading to an agreement to delay the strike. A joint committee comprising members from both the IBA and UFBU will be established immediately to explore the possibility of designating all Saturdays as bank holidays. This committee will evaluate various options, engage with all stakeholders, and strive to find a mutually beneficial solution, particularly for customers.
Negotiations will also commence regarding modifications to the Performance Linked Incentive (PLI) scheme for officers at Scale IV and above, ensuring their concerns are communicated to the government. Other outstanding issues, as noted in the minutes from March 8, 2024, will also be addressed to facilitate prompt resolutions.
Due to these developments, the UFBU has announced the cancellation of its planned protests and strikes for the time being. Previously, several public sector banks, including the State Bank of India (SBI), Bank of Baroda (BoB), and Punjab National Bank (PNB), opened their doors on Sunday, allowing customers to complete necessary banking tasks before the anticipated strike from September 28 to September 30.
This special Sunday operation applies to public sector banks (PSBs) and regional rural banks (RRBs), following directives aimed at ensuring that regular banking services remain available ahead of the proposed strike.
Customers needing to visit a branch for essential banking activities can take advantage of this additional working day, subject to the operational capabilities and staffing at individual locations.
The decision to keep PSBs and RRBs open on Sunday was made after a meeting on September 21 involving officials from the Finance Ministry, public sector banks, regional rural banks, the IBA, and NABARD. The planned strike was expected to disrupt banking services, including cheque clearance and cash transactions, for three days starting Monday, as bank unions aimed to advocate for a five-day work week and address other pending issues.
With the strike now postponed, branches of public sector banks and newer private sector banks like ICICI Bank, HDFC Bank, and Axis Bank will continue to operate normally during the three-day period.
Previously, many public sector banks and institutions had issued warnings to customers about potential disruptions and inconveniences due to the proposed strike. In its advisory, SBI emphasized that while it would strive to maintain essential services, some operations might still be impacted. The bank urged customers to complete important transactions ahead of time and recommended utilizing ATMs, ADWMs, and digital platforms such as YONO, Internet/Mobile Banking, and UPI for their banking needs. The UFBU, which represents seven unions of bank employees and officers, had also indicated a potential indefinite strike starting October 26, 2026, if their primary demands remain unmet.