The strike was initially called by the United Forum of Bank Unions (UFBU), an umbrella body representing nine bank employees' associations. The decision to defer the strike was made during a conciliation meeting convened by the Chief Labour Commissioner.

UFBU had also urged the immediate withdrawal of recent directives from the Department of Financial Services (DFS) concerning performance reviews and performance-linked incentives (PLI), citing concerns over job security and employee division.

«IBA has proposed further discussions on recruitment, PLI, and other key issues. The Chief Labour Commissioner has assured direct monitoring of the five-day banking implementation,» said C H Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA).

Bank holidays in March 2025: Check state-wise list of bank holidays in March

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AIBEA is one of the nine UFBU member organizations, which also include the All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), and the Bank Employees’ Confederation of India (BEFI).

The next hearing on the matter is scheduled for April 22, with the IBA required to submit a progress report on UFBU’s demands, PTI reported.

As of now, all scheduled and

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