In a last‑minute turn of events, the United Forum of Bank Unions (UFBU) called off a planned three‑day strike that would have shut 1.81 lakh branches and put 8 lakh employees on hold.
The decision followed a meeting at 9.30 pm Sunday between UFBU leaders and the Indian Banks Association (IBA), where both sides agreed to form a joint committee to examine the proposal to make all Saturdays bank holidays and address the performance‑linked incentive scheme for senior officers.
The strike, slated to begin Monday, had already prompted banks to stay open on Sunday, September 27, to allow customers to finish essential work. A spokesperson for the All India Bank Officers' Confederation, R Sekaran, told NDTV that the high‑level committee would include representatives from UFBU and would consult all stakeholders before deciding on the five‑day banking demand.
Customers like 45‑year‑old Ramesh Kumar, who works at a rural bank in Uttar Pradesh, said he had to finish his monthly savings transfer before the strike began, fearing a backlog if the closure went ahead. The joint committee is expected to meet within the next week, and its findings will shape the next phase of negotiations.