Bank unions postpone planned nationwide strike following successful negotiations

Bank unions have postponed their scheduled nationwide strike originally set for September 28 to 30. Representatives from the United Forum of Bank Unions called off the walkout following successful late-night discussions with the Indian Banks’ Association. Normal branch operations will continue without interruption on Monday. This resolution prevents major service disruptions during the critical half-yearly closing of accounts.

Officials agreed to establish a joint committee immediately to evaluate the demand for a five-day banking week. Currently, Indian banks close only on the second and fourth Saturdays of every month, a schedule implemented several years ago to balance employee welfare with customer accessibility. The new panel will consider declaring all remaining Saturdays as official bank holidays. Members will explore various alternatives and consult key stakeholders, including regular bank customers.

Discussions between both parties also covered a performance-linked incentive scheme for officers in Scale IV and above. Representatives from the Indian Banks’ Association plan to suggest modifications to the existing government scheme to resolve objections raised by the unions. Union leaders primarily organised the three-day strike to demand better working hours for employees. They had previously threatened an indefinite strike from October 26 if negotiations failed. The Finance Ministry issued earlier warnings that closing branches at the end of September would create severe operational issues. Public sector and Regional Rural Banks even opened on Sunday, September 27, giving customers an extra day for financial transactions. With the strike deferred, citizens can now access regular financial services throughout the week while authorities continue their dialogue.