Bank Unions To Strike On September 11 Over Five-Day Banking, PLI Scheme And Other Demands

The United Forum of Bank Unions (UFBU) declared a nationwide strike on September 11 in India, demanding action on five-day banking implementation, a performance-linked incentive (PLI) scheme, and other issues. This strike is set to continue on September 28, 29, and 30, followed by an indefinite strike from October 26 if the government does not address their concerns.

UFBU, representing nine bank employees and officers unions, also threatened an indefinite strike starting October 26 if their demands remain unmet. The UFBU criticized the government's negative stance on their major demands and expressed disappointment over the pending implementation of the five-day banking proposal, which was agreed upon in the 12th Bipartite Settlement/9th Joint Note in March 2024 but has remained unresolved for over two years.

The unions oppose the government's PLI scheme for bank officers in Scale IV and above, arguing that it differs from the IBA's understanding and does not maintain uniformity across cadres. Other unresolved issues include pension updates, a uniform dearness allowance formula for pensioners, and the option for NPS-covered employees to switch to the old pension scheme.