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Banks advise customers to complete essential transactions ahead of 3-day strike
The United Forum of Bank Unions deferred a three-day nationwide strike scheduled for Monday after late-night discussions with the IBA aimed at resolving outstanding employee demands.
Unions organized the walkout to push for immediate implementation of a five-day work week, pending since the 2024 wage settlement, and seek restoration of the Old Pension Scheme over the National Pension System.
During the meeting, the IBA and United Forum agreed to form a high-level committee to examine declaring remaining Saturdays as holidays, while the IBA will propose modifications to the PLI Scheme.
Banking services will remain functional, including cash deposits, withdrawals, UPI transactions, and Net banking, as the strike has been deferred.
The committee will explore alternatives and consult stakeholders toward resolution, while The Centre noted public sector banks recruited about 4.83 lakh employees between FY15 and FY26.