Overview
- The United Forum of Bank Unions deferred the three‑day strike after a 9:30 pm meeting with the Indian Banks' Association on Sunday that produced commitments to immediate talks.
- Both sides agreed to form a high‑level joint committee to examine the unions' demand that remaining Saturdays be declared bank holidays and to consult stakeholders on possible options.
- The IBA and unions will begin discussions on modifying the Performance Linked Incentive scheme for Scale IV and above officers, with the IBA to take proposals to the government.
- With the strike called off, banks were expected to operate normally on Monday, averting disruption during the half‑yearly closing that would have affected reconciliation, cash and cheque clearing.
- Key disputes remain unresolved — including pension/NPS demands and whether a March 8, 2024 understanding already settled five‑day banking — and unions have warned of further action including a possible indefinite strike from October 26.