Synopsis

Banks are expected to remain open on September 28 as the proposed strike has been deferred. This decision follows discussions between the United Forum of Bank Unions and the Indian Banks’ Association. A high-level committee will be formed to address pending demands, including holiday declarations for Saturdays. Customers should verify branch timings and local arrangements before visiting their banks.

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Banks are expected to remain open on Monday, September 28, after bank unions deferred their proposed three-day nationwide strike that was scheduled from September 28 to September 30. The United Forum of Bank Unions (UFBU) deferred the strike after reaching an understanding with the Indian Banks’ Association (IBA) on forming a high-level committee to discuss the unions’ pending demands.

The decision comes just hours before the proposed bank strike was due to begin and means customers should not treat September 28 as a nationwide bank strike day. Branch operations are expected to continue as scheduled, although customers should check their individual bank’s latest advisory before visiting a branch.

The September 28 bank strike has been deferred, not cancelled, according to the UFBU. The umbrella body of bank employees’ and officers’ unions said the decision followed discussions with the IBA on the demand to declare all remaining Saturdays as holidays for bank employees.

In a circular issued on September 27, the UFBU said a high-level committee would be formed immediately to deliberate on the issue. The committee will examine possible alternatives, consult stakeholders and work towards a solution while keeping customers’ interests in mind.

“In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred,” the unions said.

Yes, banks are expected to remain open today, Monday, September 28, as the proposed three-day nationwide bank strike has been deferred.

The earlier strike was scheduled for September 28, 29 and 30 and was expected to disrupt branch operations, particularly at participating public sector banks, old-generation private sector banks and regional rural banks.

With the strike deferred, customers do not need to treat September 28 as a confirmed nationwide bank closure. However, individual branch timings and any local arrangements can vary, so customers with urgent branch-related work should check their bank's latest communication.

State-owned State Bank of India (SBI) said its branches will remain open on Monday, September 28.

The main demand behind the proposed bank strike was the implementation of a five-day banking week. Bank unions have been seeking the declaration of all Saturdays as holidays, which would effectively result in banks operating from Monday to Friday.

At present, bank branches are generally closed on Sundays and on the second and fourth Saturdays of each month.

The unions have also raised demands relating to pension benefits, dearness allowance for pensioners and an option for employees covered under the National Pension System (NPS) to switch to the Old Pension Scheme.

A one-day nationwide bank strike was held on September 11 over these demands.

Apart from setting up the high-level committee on the Saturday holiday demand, the IBA and UFBU agreed to begin discussions on the Performance Linked Incentive (PLI) scheme for Scale IV and above officers.

According to the UFBU circular, the discussions will consider the unions' observations and seek to address the issue with the government.

The two sides will also take up residual issues listed in the minutes of their March 8, 2024 meeting for early resolution.

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