Union body UFBU defers its planned three‑day strike across India that was set to run from September 28 through 30, ensuring all banks remain open.
The decision follows assurances from the Indian Banks' Association, which agreed to address key demands such as a five‑day work week and will form a high‑level committee to examine Saturday holidays.
Union chief Narendra Sharma said the strike had been triggered by a failure to implement an agreement signed 2½ years ago that promised Saturday and Sunday as holidays and the withdrawal of a new Performance Linked Incentive scheme.
With the strike off, customers can carry out transactions during the crucial half‑yearly closing period, and banks will operate for the full five days of the week, including the holiday on Friday, October 2.
The UFBU and IBA will convene the committee immediately to discuss the remaining Saturday holidays and PLI scheme changes, with proposals to be tabled to the government by early October.