Bank employees call off nationwide strike after talks with IBA

New Delhi: Bank employees’ unions have called off a three-day nationwide strike that was scheduled to begin Monday after reaching an understanding with the Indian Banks’ Association (IBA) on the demand for a five-day working week.

The United Forum of Bank Unions (UFBU), representing bank employees and officers, formally announced the decision to defer the strike following crucial discussions with the IBA late Sunday. The talks reportedly resulted in an in-principle agreement to reduce the number of working days at banks to five per week.

As part of the process, a high-level committee involving the IBA and UFBU will be constituted to examine the possibility of declaring the remaining Saturdays as holidays. The panel will explore various options and work towards a solution while ensuring that customers' banking services are not adversely affected.

The strike had been called over several demands, with the five-day working week being a key issue. Banks had remained open on Sunday as part of preparations for the proposed three-day action.

With the strike withdrawn, banking operations across the country are expected to continue normally from Monday. The proposed agitation followed a one-day nationwide strike held on September 11.

Ahead of the planned strike, public sector banks, including the State Bank of India, had warned customers that services could be affected. Customers were advised to complete essential transactions in advance and use ATMs, cash deposit and withdrawal machines, UPI, internet banking and mobile banking for routine requirements.

The UFBU had also warned of an indefinite nationwide strike from October 26 if its demands were not addressed.