New Delhi: The proposed two-day nationwide bank strike scheduled for March 24 and 25 has been postponed following a conciliation meeting between the United Forum of Bank Unions (UFBU) and the Central Labour Commissioner.

In an official statement, UFBU confirmed that key concerns such as the implementation of a five-day banking week, recruitment policies, and performance-linked incentives (PLI) were discussed in detail during the Friday meeting. The discussions saw participation from representatives of the Indian Banks' Association (IBA) and the Department of Financial Services (DFS), with the DFS joint secretary joining virtually.

The strike was expected to cause widespread banking disruptions from March 22 to March 25. Since March 23 is a scheduled bank holiday, the planned strike on March 24 and 25 would have resulted in a four-day banking shutdown, significantly affecting services like cash transactions, cheque processing, remittances, and loan approvals.