Bank unions defer 3-day nationwide strike after talks with IBA

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• (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.).
• India bank strikeIndia bank strike monday latest newsIndian Banks' AssociationUnited Forum of Bank Unionsdigit banking services during strike.
• The two sides additionally agreed to commence discussions on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers.
• Bank unions have decided to defer a planned three-day strike after discussions with the Indian Banks' Association.
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Nifty23, 140.5077.41. Motilal Oswal Midcap Fund Direct-Growth. The Economic Times daily newspaper is available online now. Bank unions defer 3-day nationwide strike after discussions with IBA. Bank unions defer 3-day nationwide strike after discussions with IBA. ET OnlineLast Updated: Sep 27, 2026, 11: 41: 00 PM IST.

Bank unions have decided to defer a planned three-day strike after discussions with the Indian Banks' Association. A new high-level committee will be formed to address significant employee demands, including Saturdays as holidays. Union representatives aim to resolve reservations related to the Performance Linked Incentive scheme for higher-ranking officers. The Finance Ministry has encouraged dialogue for addressing unresolved problems while ensuring services remain uninterrupted. Listen to this article in summarized format. Unlock AI Briefing and Premium Content. New Year Offer 24 Hours Left. Subscribe Now Already a member? Sign In.

Bank unions have deferred their proposed three-day nationwide strike after reaching an understanding with the Indian Banks' Association (IBA) on forming a high-level committee to resolve their demands, the United Forum of Bank Unions (UFBU) remarked on Sunday. As cited by ANI, the UFBU remarked the committee will be formed immediately to deliberate on the demand for declaring all remaining Saturdays as holidays for bank employees, in a circular issued on September 27. The committee will examine feasible alternatives, hold discussions with all stakeholders and work towards a solution acceptable to all parties, with customers' interests given importance, the UFBU stated.

Meanwhile, the two sides additionally agreed to commence discussions on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers. The discussions will consider the unions' observations and seek to address them with the administration. The residual problems listed in the minutes of a March 8, 2024 gathering between the parties will additionally be taken up for early resolution, according to the circular. Live Events.

"In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred, " the unions remarked. The proposed strike had been scheduled for three days from Monday and was projected to affect banking services, particularly at public sector banks, old-generation private banks and regional rural banks. The unions had called the strike primarily to press for a five-day banking week, along with demands relating to pension benefits, dearness allowance for pensioners and an option for employees covered under the National Pension System to switch to the Old Pension Scheme. A one-day nationwide bank strike was held on September 11 over the demands. Notably, the UFBU, an umbrella body representing seven bank employees' and officers' unions, had additionally threatened an indefinite strike from October 26 if the matters remained unresolved. The Finance Ministry had earlier this week appealed to bank employees to resolve the remaining problems through dialogue and keep banking services uninterrupted. It remarked most of the unions' worries had been substantially addressed and that the PLI-related demand had been put in abeyance earlier this month. Add Now!

In short, bank unions defer 3-day nationwide strike after talks with IBA is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.