Bank Strike Today: Millions of customers could have faced inconvenience due to a three-day bank strike starting today, but the unions recognised this and called it off. The nationwide bank strike proposed for September 28–30 has been deferred for now. Banks are expected to open normally on Monday, and customers will not have to wait until October 1, 2026, for branch-related work.

The decision to postpone the nationwide strike was made following a meeting between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU). The UFBU announced the decision in a circular issued after the meeting with the IBA, which took place at 9:30 PM on September 27.

The United Forum of Bank Unions (UFBU) had called the bank strike. The decision to withdraw the proposed strike came after talks held between the Indian Banks’ Association and the UFBU on Sunday night. The most significant consensus reached during the discussions concerned the demand for a five-day banking week. An agreement was reached to immediately form a high-level committee to address this issue. The UFBU has also deferred its other proposed agitational activities for now.

Will there be a holiday every Saturday now?

The most significant question now is whether banks will observe a holiday every Saturday. The answer is not yet. The five-day banking week has not been implemented at this stage. Currently, banks remain closed on the second and fourth Saturdays of every month, while operating normally on the other Saturdays. The new joint committee will consider the option of declaring a holiday for banks on every Saturday.

So, has the government approved the five-day workweek?
According to government sources, the Ministry of Finance has not made any commitment regarding the proposal for a five-day workweek (five days of work and two days off). While bank employee unions claimed that a consensus had been reached on the five-day workweek, government sources have dismissed this claim.

UFBU Issues Circular
According to the UFBU circular, “A high-level committee comprising the IBA and UFBU will be constituted immediately to discuss the demand for declaring the remaining Saturdays as holidays and to explore options for a solution acceptable to all stakeholders and customers.”

The IBA will propose amendments to the government regarding the PLI scheme for Scale IV officers and above to address union concerns before discussions begin. The circular further stated that the remaining issues mentioned in the minutes dated March 8, 2024, would also be taken up for discussion to ensure their early resolution.