Indian bank unions have confirmed they will proceed with a three-day nationwide strike from September 28 to 30, 2026. The decision follows unsuccessful conciliation talks with the Indian Banks' Association (IBA) and the Department of Financial Services (DFS) regarding their demand for a five-day work week.
The United Forum of Bank Unions (UFBU), an umbrella organization representing various bank employee and officer unions, stated that a positive resolution on the five-day banking issue was not reached during a meeting held on Tuesday with the Deputy Chief Labour Commissioner in New Delhi.
Conciliation Efforts Fail
The conciliation meeting involved representatives from the UFBU, IBA, DFS, and bank managements. Despite appeals from the Finance Ministry to defer the strike, union leaders remained firm, emphasizing that the demand for five-day banking had already been agreed upon and signed as part of the March 2024 wage revision settlement.
During the discussions, the government acknowledged that it had kept the Performance Linked Incentive (PLI) scheme for Scale IV officers and above in abeyance, addressing one of the unions' key demands. However, the critical issue of five-day banking remains "under consideration," with the government stating a need to consult other stakeholders before a final decision.
Unions Stand Firm Amid Warnings
The IBA and DFS representatives urged the UFBU to reconsider the strike, highlighting the potential inconvenience to the banking public and disruption to essential services. The Finance Ministry had previously warned that the three-day strike, combined with the preceding weekend, could lead to an effective five-day closure of banking services. This coincides with September 30, a crucial date for half-yearly bank closings, reconciliation, provisioning, and treasury operations.
The UFBU, however, strongly condemned what it described as "unfair labour practices" by bank managements attempting to discourage employees from participating in the strike. The unions reiterated that they would only consider deferring the strike if there was "any concrete and positive development" towards implementing five-day banking. Without such a development, the strike on September 28, 29, and 30, 2026, will proceed as planned.