PSU Banks Defer 3 Day Strike Beginning September 28; Normal Banking Operations to Continue Without Disruption
UdaipurTimes, September 28, 2026 | National News, Bank Strike Update: The proposed 3-day nationwide strike of PSU Banks was deferred following a late evening deliberation between the stakeholders, viz. the Indian Banks Association and United Forum of Banks Unions on Sunday, September 27, 2026.
The decision to defer by the UFBU comes after the discussions on the demands of the Banks unions, for which the IBA agreed to form a joint high-level committee to review the demands including declaring the remaining Saturdays as holidays for the PSU Banks. The online meeting that was held at 9:30pm on Sunday, included 6 banking executives representing the IBA and 7 representatives of the Bank unions. A late night circular was issued by the UFBU, deferring the strike.
Three core demands of the UFBU include:
- Declaring the remaining Saturday's as weekly holidays (the 5-day working week). The five-day working week was agreed to in principle at the 12th Bipartite Settlement reached in March 2024, however implementation was still pending. Currently the 2nd and 4th Saturdays of the month are weekly offs. in addition to each Sunday.
- Review of the PLI (Performance Linked Incentive Structure), which the union says is more in favour of senior officers. The PLI scheme is introduced by the Department of Financial Services. The UFBU terms the scheme as disproportionate against the regular employees as compared to senior officers.
- Improved Pension benefits and options for employees to shift from the New Pension Scheme to the Old Pension Scheme.
