The three-day nationwide bank strike planned for September 28 to 30 has been deferred after a late-night meeting between the United Forum of Bank Unions and the Indian Banks' Association on September 27. Banks will function normally from Monday.

The unions had called the strike over their demand for a five-day banking week, with all Saturdays off. A high-level committee of the IBA and UFBU will now study the demand and consult stakeholders, according to the UFBU circular issued after the meeting.

Both sides also agreed to start talks on revising the performance-linked incentive scheme for Scale IV and above officers, and to take up residual issues pending since March 2024.

At present, banks close only on the second and fourth Saturdays. Public sector banks opened on Sunday as a precaution for customers. A final decision on the five-day week will need further negotiations between the unions and the IBA.