7 October, 2026 09:29

—CIRCULAR No. 30/34/2026/67 28-9-2026

To Office Bearers, State Federations and

All India Bankwise Federations, All Unions

Dear comrades,

Minutes of the Meeting of the Negotiating Committee of IBA

with UFBU leadership on 27/9/2026

1. In a meeting on 23/9/2026, the issue of the proposed three-day strike by the UFBU and other Unions/ Associations was discussed, and the Chairman, IBA, and SBI, Chief Executive, IBA, Chairman of the Negotiating Committee of the IBA and MD&CEO of Bank of India, Alternate Chairman of the Negotiating Committee of the IBA, and MD&CEO of Punjab National Bank, addressed the Leadership of the UFBU. The Bank staff and officers’ important role in the growth of PSBs was appreciated. After detailed discussions, it was decided to continue to engage to resolve the issues.

2. The next meeting of the negotiating committee of IBA with UFBU took place today on 27/9/2026, represented by Chairman of the Negotiating Committee Shri Rajneesh Karnatak, MD&CEO of BoI, Shri Ashok Chandra, Alternate Chairman of the Negotiating Committee of IBA, MD&CEO of PNB, Shri Binod Kumar, Member of the Negotiating Committee, MD&CEO Indian Bank, Shri G S Rana, member of the Negotiating Committee and DMD, SBI. They addressed the participating members of UFBU.

3. The leaders of the UFBU expressed their views and emphasised that their demands are to be addressed on a priority basis, particularly the issue of implementation of 5-day banking.

4. It was mentioned that staff members, unions, and Associations, all want to work in the interest of the banking industry and continue to contribute to its growth and visibility in the global space. The banking industry is on a growth path and playing a leading role.

After due deliberations, it was decided that:

a. A high-level committee of IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays. This committee will explore, all possible alternatives; discuss with all stakeholders, and work out a solution acceptable to all stakeholders and, more importantly, the customers.

b. As regards the PLI Scheme for Scale IV and above officers, the discussions can start with IBA to propose modifications to the Government in the scheme to address the observations of the Unions/ Associations.

c. The residual issues as listed in the minutes dated 8.3.2024 will be discussed between the parties for expeditious resolution.

d. In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred.

With greetings,

Yours Comradely,

C.H. VENKATACHALAM GENERAL SECRETARY

C H VENKATACHALAMGENERAL SECRETARY AIBEA
98400 89920