Three-Day Bank Employees’ Strike Postponed; Banks to Function as Usual

The three-day nationwide strike planned by bank employees from today until September 30 has been postponed following discussions between the Indian Banks’ Association (IBA) and representatives of bank employees.

Bank employees and officers had planned the strike to press for several demands, including a five-day work week, improved pension benefits, filling vacant posts, regularization of temporary employees, and equitable distribution of Performance Linked Incentive (PLI) based on profits.

Around 8 lakh bank employees and officers across nearly 1 lakh bank branches were expected to participate in the strike, which could have affected banking services across the country.

The proposed strike came immediately after the weekend holidays, raising concerns about prolonged disruption to banking operations. To avoid inconvenience to customers, the Union Government had directed public sector banks to remain open on Sunday.

Accordingly, public sector banks operated normally on Sunday, allowing customers to carry out essential transactions such as cash withdrawals, deposits and cheque-related services. Many customers also visited branches to complete urgent financial transactions and withdraw pension payments ahead of the proposed strike.

Bank employees who reported for duty on Sunday reportedly registered their protest by wearing black clothes, black badges and black ribbons.

The proposed strike also came just days ahead of the Gandhi Jayanti holiday on October 2, raising concerns about a further disruption to banking services.

To help customers manage cash requirements during the strike period, public sector banks had announced that ATM transactions would remain free within the applicable monthly limits. Customers could make up to five free transactions per month at their own bank’s ATMs and three free transactions at other bank ATMs, subject to existing rules.

Meanwhile, the Indian Banks’ Association (IBA) held discussions with the bank employees’ federation in an effort to resolve the issues and avoid disruption to banking services.

Following the talks, it was decided that a high-level committee would be constituted to examine the demand for a five-day banking week, including Saturdays as holidays. Based on the decisions reached during the discussions, the bank employees’ federation announced that the proposed three-day strike had been postponed.

As a result, banks will operate normally today, and customers can access regular banking services as usual.