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Business
Bank Unions Postpone Nationwide Strike After Agreement with IBA
✍️ The Hindu
🗓 28 Sep 2026, 04:17 AM
👁 12
Bank unions have postponed a planned three‑day nationwide strike after reaching understandings with the Indian Banks’ Association (IBA). A high‑level committee will be formed to discuss making remaining Saturdays holidays for bank staff.
Bank unions have decided to defer a three‑day nationwide strike that was slated to begin next week. The decision follows understandings reached between the Indian Banks’ Association (IBA) and the Union of Finance Bank Workers (UFBU).
According to the statement released by the IBA, a high‑level committee comprising representatives from both sides will be constituted immediately. The committee’s mandate is to deliberate on the proposal to declare the remaining Saturdays as holidays for bank employees.
The postponement comes after months of negotiations over working hours and holiday entitlements. While the unions had threatened a strike to press for better conditions, the agreement is seen as a step toward resolving the dispute without disrupting banking services.
Banking authorities and regulators have welcomed the development, noting that a strike could have widespread implications for the financial sector and the economy at large. The next meeting of the committee is scheduled for early next week, with a decision expected soon.
Both sides have expressed optimism that the committee’s work will lead to a lasting resolution, preventing further industrial action in the banking sector.
According to the statement released by the IBA, a high‑level committee comprising representatives from both sides will be constituted immediately. The committee’s mandate is to deliberate on the proposal to declare the remaining Saturdays as holidays for bank employees.
The postponement comes after months of negotiations over working hours and holiday entitlements. While the unions had threatened a strike to press for better conditions, the agreement is seen as a step toward resolving the dispute without disrupting banking services.
Banking authorities and regulators have welcomed the development, noting that a strike could have widespread implications for the financial sector and the economy at large. The next meeting of the committee is scheduled for early next week, with a decision expected soon.
Both sides have expressed optimism that the committee’s work will lead to a lasting resolution, preventing further industrial action in the banking sector.