A planned three-day nationwide bank strike, originally scheduled for September 28 through September 30, 2026, has been deferred following late-night negotiations between the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU). The agreement, reached during a meeting at 9:30 pm on September 27, also resulted in the suspension of a proposed indefinite strike action previously slated to begin on October 26, 2026.
The primary outcome of the discussions is the immediate formation of a high-level committee comprising representatives from both the IBA and the UFBU. This body is tasked with deliberating on the long-standing demand for a five-day banking week, which would see all Saturdays declared as holidays. The committee is expected to explore various alternatives, consult with stakeholders including bank customers, and work toward a solution that balances employee demands with operational requirements.
According to government statements regarding The Indian Express report, Department of Financial Services representatives noted that the five-day banking demand is under consideration without a provided timeline.
As of September 28, 2026, no official shift to a five-day workweek has been implemented. Bank branches continue to operate under the existing arrangement, where the second and fourth Saturdays of each month are designated as holidays, while the first, third, and any fifth Saturdays remain working days. The UFBU has emphasized that the committee will specifically examine how a five-day schedule could be implemented without disrupting essential services.
Beyond the five-day workweek proposal, the understanding reached between the unions and the IBA covers several other pending service-related issues. These include modifications to the Performance Linked Incentive (PLI) scheme for officers at Scale IV and above. The two sides have committed to discussing these residual issues, which were previously outlined in minutes dated March 8, 2024, with the objective of reaching an early resolution.
For bank customers, the immediate impact is that branch operations are expected to continue according to normal schedules. The UFBU has indicated that a detailed circular regarding the deferred agitation programme will be communicated subsequently. Customers are advised to monitor official notices from their respective banks for any updates, while noting that digital services such as UPI, mobile banking, and ATM access remain independent of branch working hours.
