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Business

India defers three-day nationwide bank strike after late-night union–banker talks

The United Forum of Bank Unions has deferred its three-day nationwide public-sector bank strike due to start on 28 September after eleventh-hour talks with the Indian Banks' Association; a joint committee will examine the five-day week demand.

By Priya Raman · · 2 min read

The United Forum of Bank Unions (UFBU) has deferred its planned three-day nationwide strike of public-sector banks, due to begin on 28 September, after last-minute talks with the Indian Banks’ Association (IBA) on Sunday evening, IANS reported.

The online meeting, held at 9:30pm on Sunday with six IBA executives and seven union representatives, produced an agreement to set up a joint high-level IBA–UFBU committee to examine the unions’ central demand of making all Saturdays bank holidays — a five-day banking week, Udaipur Times reported. The five-day week was agreed in principle in the 12th Bipartite Settlement of March 2024 but never implemented; banks currently close only on second and fourth Saturdays, alongside Sundays.

The two sides also agreed to begin discussions on revising the performance-linked incentive (PLI) scheme for Scale IV officers and above, and to take up residual issues from their March 2024 minutes, including improved pension benefits and options for staff to switch from the National Pension System to the Old Pension Scheme.

With the strike deferred, banks will remain open on Monday, 28 September. State Bank of India confirmed its branches will operate normally. The deferral caps a tense weekend: public-sector banks and regional rural banks opened specially on Sunday, 27 September, after a Finance Ministry meeting on 21 September involving the IBA and NABARD, to let customers finish branch work ahead of the threatened stoppage. A one-day nationwide bank strike was held on 11 September over the same demands, The Economic Times reported.

Sources

  • The Economic Times — “Are banks open today? Check the latest update on September 28–30 bank strike” (28 Sept 2026)
  • NDTV Profit — “Bank Unions Defer Three-Day Nationwide Strike After Meeting Between Association, Unions” (28 Sept 2026)
  • IANS via ap7am/ommcomnews — “3-day nationwide bank strike deferred in relief for millions” (27 Sept 2026)
  • Udaipur Times — “PSU Banks Defer 3 Day Strike Beginning September 28” (28 Sept 2026)

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