Indian bank unions suspend strike after five-day week talks
India’s United Forum of Bank Unions has deferred a three-day nationwide strike after agreeing with the Indian Banks’ Association to create a committee on the demand for all Saturdays to become bank holidays. The agreement does not itself introduce a five-day banking week and sets no deadline for a decision.
India’s United Forum of Bank Unions has deferred a nationwide strike planned for September 28 to 30 after talks with the Indian Banks’ Association on Sunday night. The two sides agreed to establish a high-level committee to examine the unions’ demand for a five-day banking week, according to a UFBU circular issued after the meeting. The proposed arrangement would make the remaining Saturdays bank holidays.
Banks currently close on the second and fourth Saturdays of each month. The committee will consider alternatives and consult stakeholders, including customers, but the agreement does not introduce a five-day week. The circular did not set a deadline for the committee to reach a decision.
It also said other planned agitation programmes would be deferred, without specifying a new strike date if discussions fail to settle the dispute. The unions had called the three-day action mainly to press for all Saturdays to be made holidays, citing long working hours. The UFBU says the five-day week has been under discussion for more than two years.
The IBA and UFBU will also discuss a performance-linked incentive scheme for officers in Scale IV and above. The employers’ association is expected to propose changes to a government scheme to address union objections. The Finance Ministry had urged bank employees not to strike, warning that industrial action could disrupt banking services.
The two sides will also revisit unresolved matters recorded in minutes from their August 8, 2024 meeting.
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