A three-day bank strike was scheduled to begin today (Monday), but it was suddenly called off overnight. Notably, banks had remained open on Sunday in anticipation of this strike. The decision to defer the nationwide bank strike—originally planned for September 28–30—was reached following a meeting between the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU). The UFBU announced this in a circular issued after their meeting with the IBA at 9:30 PM on September 27.

**Has the government approved a 5-day work week?**
A major reason behind the strike's cancellation has come to light. The primary issue driving the strike was the demand for a 5-day work week. Amid reports suggesting the implementation of a 5-day work week for bank employees, the government has clarified the situation. According to government sources, the Ministry of Finance has not commit the proposal for five working days and two days off. Claims made by bank employee unions regarding an agreement on a 5-day work week have been dismissed by government sources.

**What did the UFBU state in its circular?**
According to the recent circular issued by the UFBU, a high-level committee comprising the IBA and UFBU will soon be formed to consider the demand for declaring all remaining Saturdays as holidays for banks. This committee will strive to find an acceptable solution while keeping customers and all stakeholders in mind.

Additionally, a consensus has been reached between the two parties regarding the Performance Linked Incentive (PLI) scheme for officers at Scale-4 and above. Under this arrangement, the IBA will submit a revised proposal to the government to address the unions' objections, after which further discussions will take place. The circular also clarifies that pending issues from the meeting held on March 8, 2024, will be resolved as soon as possible. In light of these positive steps, the UFBU has decided to defer its proposed agitation and nationwide strike for the time being.

It is worth noting that earlier on Friday, during a press conference in Shimla, Narendra Sharma—the UFBU convener for Himachal Pradesh—had announced a three-day strike. He stated that promises made in an agreement with the government nearly two and a half years ago remained unfulfilled, compelling the unions to resort to a strike.

Do not wish to inconvenience customers?
Additionally, Narendra Sharma remarked, "We want to clarify that bank employees and officers have no intention of inconveniencing customers. We understand the importance of uninterrupted banking services and the difficulties customers might face during a strike. However, when our legitimate demands and the promises made in the agreement remain pending for such a long time, we are forced to take action like a strike to draw the government's attention."

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