The proposed three-day bank strike from September 28 to September 30 was postponed after a meeting between the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU). The UFBU on Sunday issued an official statement, giving a green signal to their demand of getting all Saturdays as holidays. Banks will now operate on Monday, as per the usual working hours.

What did the official announcement say?

According to a statement issued by the bank union, the IBA and UFBU met at 9:30 pm on Sunday. Following detailed discussions, both sides reached an agreement on the following points:

A joint committee of the IBA and UFBU will be formed immediately to consider the issue of making all Saturdays a bank holiday. The committee will consider all options, hold discussions with affected individuals, and seek a solution that is fair to all parties, especially customers.

Discussions will be initiated with the IBA regarding changes in the PLI scheme for officers in Scale IV and above so that their concerns can be placed before the government.

Other outstanding issues mentioned in the minutes of the March 8, 2024, meeting will also be discussed for early resolution. Due to these agreements, the UFBU has stated that it will be withdrawing its proposed protests and strike for now.

Will Banks Remain Open On Sept 28?

Yes, all banks will remain open on Monday. With the strike deferred, banks are scheduled to function on Monday, September 28.

The strike was scheduled to start on Monday and would have coincided with the half-yearly closing period for banks. The proposed three-day action had raised concerns about possible delays and disruptions to banking services and transactions.

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On Sunday, several bank branches had also opened to help customers complete transactions ahead of the planned three-day closure. ANI reported that the Sunday openings were aimed at helping customers clear pending work before the proposed strike.

The UFBU has now deferred the planned agitation and strike action following its latest discussions with the IBA.

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This means there will be no three-day nationwide bank strike from September 28 to 30 at this stage. The focus will now shift to the high-level committee and further discussions between the IBA and bank unions on the five-day banking week, holidays on all Saturdays, the PLI scheme and other pending demands.


It is significant to note that at present all government banks remain closed on the second and fourth Saturdays.