New Delhi: Bank customers have some relief as the nationwide bank strike scheduled from September 28 to September 30 has been postponed. Banks are expected to remain open as usual on Monday, allowing customers to complete branch-related work without waiting until October 1, 2026.
Why Was The Bank Strike Postponed?
The nationwide strike had been called by the United Forum of Bank Unions (UFBU). However, following discussions between the Indian Banks’ Association (IBA) and UFBU on Sunday night, the proposed strike was called off.
One of the key points discussed during the meeting was the long-standing demand for a five-day banking week. Both sides agreed to constitute a high-level committee to examine the issue.
Following the agreement, UFBU decided to suspend its other proposed agitation programmes for the time being.
Will Banks Now Remain Closed Every Saturday?
The decision does not mean that banks will immediately start observing a five-day working week.
At present, banks continue to remain closed only on the second and fourth Saturdays of every month, along with Sundays and other scheduled holidays. The proposed committee will examine the possibility of declaring every Saturday a bank holiday.
The committee is also expected to consider other options, including consultations with customers and other stakeholders. The UFBU circular does not specify a deadline for the committee to submit its recommendations.
Therefore, banks will continue operating under the existing system until any formal decision is announced.
What Are The Bank Unions Demanding?
The discussions between the IBA and UFBU covered issues beyond the five-day banking week. Both sides also agreed to discuss a performance-linked incentive scheme for officers at Scale IV and above.
The IBA is expected to propose changes to the scheme to the government with the aim of addressing concerns raised by the bank unions.
The UFBU had announced the September 28-30 strike primarily to press for a holiday on every Saturday. Bank unions have argued that long working hours are among the reasons behind their demand for a five-day banking week.
According to the unions, discussions on the issue have been ongoing for more than two years. However, government sources have maintained that no agreement was reached on a five-day banking week during the previous wage negotiations and that the issue was not part of the settlement.
