The United Forum of Bank Unions (UBFU) called off the proposed three-day strike nationwide strike, beginning Sunday (September 27, 2026), after it said an agreement was reached with the Indian Banks’ Association (IBA) on its demands, including a five-day work week.

With the postponement of the strike, banks would function on Monday (September 28, 2026).

Both parties agreed to form a high-level committee to deliberate on the issue of declaring the remaining Saturdays as holidays. According to a circular, the IBA and UFBU had a meeting at 9:30 p.m. in which the decision was made.

“This committee will explore, all possible alternatives; discuss with all stakeholders, and work out a solution acceptable to all stakeholders and, more importantly, the customers,” the UFBU said.

As regards the PLI scheme for Scale IV and above officers, the discussions can start with the IBA to propose modifications in the scheme to the government to address the observations of the unions/associations, it said.

The residual issues as listed in the minutes dated March 8, 2024, will be discussed between the parties for expeditious resolution, it said.

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