Bank unions halt three‑day strike, agree to set up committee on five‑day work week

UPDATE - follow-up to Bank unions defer three-day nationwide strike after 'understandings reached' with IBA: Bank unions postponed the planned three‑day nationwide strike after an online meeting with bank management on Sunday, September 28, 2026. The meeting, held at 9.30 pm, lasted about an hour and brought together seven union representatives and six banking executives. C. H. Venkatachalam, general secretary of the All India Bank Employees Association, said all banks will operate normally and that the three main demands were discussed, including a push for a five‑day working week. He announced the immediate creation of a high‑level committee comprising the Indian Banks’ Association and the United Forum of Bank Unions to study how the shortened week could be implemented. The United Forum of Bank Unions issued a circular late Sunday confirming the understanding reached with the IBA and noting that talks on the PLI Scheme for Scale IV and above officers will begin, with the aim of proposing changes to the government. The circular also referenced unresolved items listed in minutes dated 8 March 2024 for speedy settlement. Devidas Tuljapurkar, chairperson of the All India Bank of Maharashtra Employees’ Federation, welcomed the committee formation, stressing the need to involve customers to avoid inconvenience. The decision follows a brief period when banks were ordered to open on Sunday, a rare occurrence, as shown in a photo taken in Kolkata on September 27. No strike will occur, and banks are expected to remain open as usual while the committee works on the proposals.