Bank unions call strikes from 11 September, indefinite strike from 26 October over 5-day banking, PLI scheme

The United Forum of Bank Unions (UFBU), representing over 90% of the banking workforce across various institutions, has called for a series of nationwide strikes. The first strike is scheduled for 11 September, followed by strikes on 28, 29, and 30 September. The UFBU has also called for a continuous, indefinite strike from 26 October.

The primary demands of the unions include the implementation of a five-day banking week as agreed upon in the Settlement/Joint Note of March 2024, the withdrawal of the government's "unilateral and discriminatory" Performance Linked Incentive (PLI) scheme, and the modification of the scheme through bilateral discussions. The UFBU argues that the government's revised PLI scheme, which was introduced in November 2024, violates the previously agreed-upon bilateral agreement and introduces discrimination based on individual performance.

The unions claim that the revised scheme provides incentives up to 365 days' wages for Scale IV to Scale VII officers, while the remaining 95% of staff can only expect one day's wage in incentives. The unions have filed a case in the Delhi High Court against the revised scheme and allege that the dispute remains pending before the Chief Labour Commissioner.