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The UFBU had deferred the bank strike, which was scheduled to be conducted from 28 to 30 September 2026, saying that a high-level committee would be formed for the implementation of 5-day banking.
The strike was deferred on the night of Sunday, 27 September 2026, and UFBU said that minutes were signed between UFBU and IBA regarding 5-day banking and PLI.
UFBU said that minutes were signed to form a high-level committee that would hold meetings with stakeholders and work towards the implementation of 5-day banking. UFBU also said that minutes were signed to start discussions on modifications to the new PLI scheme.
In the latest circular released by UFBU on 9 October 2026, UFBU wrote a letter to IBA, requesting IBA to start discussions on the new PLI scheme and modify it for the welfare of all bank employees.
UFBU requested IBA to review the PLI paid to award staff and officers up to Scale III, as well as to officers in Scales IV to VIII who did not receive any PLI, to ensure fair treatment for all employees.
In its 9 October circular, UFBU said that minutes were signed between IBA and UFBU on 27 September 2026, under which IBA agreed to begin discussions on changes to the revised PLI scheme for officers in Scale IV and above. At this meeting, it was also decided to form a high-level committee for the implementation of 5-day banking.
So, bankers are asking: Where are the minutes signed between UFBU and IBA? Why have UFBU and IBA not released the minutes? IBA has not even released a single letter regarding this. The letters are being released only by UFBU.
Bankers are demanding transparency in the ongoing discussions between UFBU and IBA, as the results of these discussions will impact around 10 lakh bankers in India.
Bankers are demanding UFBU to release the minutes signed with IBA on Sunday – 27 September 2026.
