The five-day banking demand has progressed with the inaugural meeting of a high-level committee established by the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU). This meeting occurred on Thursday, following a recent agreement that led to the postponement of a planned three-day nationwide strike by bank unions. The unions agreed to defer the strike to facilitate discussions on the five-day banking issue.

This 12-member committee was formed on September 29, 2026, as part of an agreement reached two days earlier between the IBA and UFBU. According to the UFBU’s circular dated October 1, 2026, the committee convened in the afternoon of the scheduled day, although the meeting was originally set for September 30, but was rescheduled due to unforeseen circumstances.

Bank unions expressed optimism regarding the committee’s formation, indicating hopes for a structured approach to implement five-day banking in a timely manner. However, it is important to note that the mere formation of the committee does not equate to the approval of five-day banking.

Planned Discussions and Stakeholder Engagement

The UFBU stated that the comprehensive nature of the issue necessitates understanding and addressing the concerns of various stakeholders before any changes can be instituted. To facilitate this, the unions proposed arranging a full-day physical meeting to discuss all pertinent issues comprehensively. The committee has indicated a willingness to organise such a meeting soon, as communicated by the UFBU.

The unions are eager for constructive dialogue, hoping this can lead to clarity regarding the feasibility of the five-day banking system. A detailed discussion at the physical meeting is considered crucial for aligning interests and preparing for a potential shift in banking operations.

With ongoing dialogues, the UFBU is committed to keeping its members informed about any developments. The outcome of these discussions will be vital as both the IBA and UFBU weigh the implications of implementing changes in banking operations.

Background on the Five-Day Banking Demand

The demand for five-day banking has been a pivotal issue for the unions, primarily focusing on the current operational days of bank branches. Currently, branches observe closures on Sundays and the second and fourth Saturdays of each month. The unions are advocating for all Saturdays to be designated as holidays, which would consequently standardise the workweek.

The initial plan for a three-day strike from September 28 to 30 was called off after the IBA agreed to form a committee, a temporary measure to keep bank branches operational, especially during the critical half-yearly account-closing period. This shift demonstrates a willingness by both parties to address the need for change in the banking system.

As discussions about the five-day banking model continue, the UFBU remains vigilant. The unions aim to ensure that their demands are thoroughly reviewed and considered as part of the committee’s agenda, maintaining momentum for their cause while navigating the complexities involved in potential policy changes.

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