Bank Strike Scheduled For Sep 28 Deferred After IBA-UFBU Meeting, Key Issues To Be Resolved

The planned bank strike and agitation activities have been postponed after a discussion between the Indian Banks Association (IBA) and the United Forum of Bank Unions (UFBU) on Sunday evening. This decision came after thorough deliberations between representatives from both parties. On September 27, 2026, the UFBU announced in an official circular that the two sides had agreed to continue discussions on the concerns raised by the bank unions.

The bank strike was subsequently canceled following a meeting between the IBA and UFBU, which took place around 9:30 PM on September 27. The decision was shared through a joint circular signed by representatives of the different unions. A high-level committee, consisting of representatives from the IBA and UFBU, was established immediately to examine the option of designating the remaining Saturdays as holidays.

The committee aims to discuss various alternatives in consultation with all stakeholders, with the goal of arriving at a solution that is acceptable to everyone involved, including customers. During the meeting, the Performance Linked Incentive (PLI) Scheme for Scale IV and above officers was also discussed. The IBA expressed its commitment to initiating talks with the government to explore potential changes to the scheme in response to observations and concerns raised by unions and associations.

Furthermore, the meeting agreed to revisit the residual issues listed in the minutes dated March 8, 2024, with the aim of addressing them promptly and reaching a resolution.