The proposed bank strike for three days, scheduled to start on Monday, has been postponed. Banks across India will function normally on Monday. The United Forum of Bank Unions (UFBU) announced a three-day nationwide bank strike from September 28 to September 30.

In a latest statement, UFBU said that the bank strike has been deferred after its Sunday night meeting with the Indian Banks' Association (IBA). The strike was announced over a demand to declare all Saturdays as holidays and Monday to Friday as working days.  

The current system mandates bank closure on the second and fourth Saturdays, while the first, third and fifth Saturdays are working days. To minimise the impact of the three-day strike till Wednesday, public sector banks and Regional Rural Banks (RRBs) kept their branches and certain banking infrastructure operational today, Sunday.

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In its statement, the UFBU said that after due deliberations, it was decided that a decision has been taken to form a high-level committee to deliberate on declaring Saturdays as holidays.

"A high-level committee of IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays. 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 statement read.

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The UFBU statement further added, "As regards the PLI Scheme for Scale IV and above officers, the discussions can start with IBA to propose modifications to the Government in the scheme to address the observations of the Unions/ Associations."

"The residual issues as listed in the minutes dated 8.3.2024 will be discussed between the parties for expeditious resolution," it added.