Bank unions announce September 11 strike over five-day banking, PLI demands

The United Forum of Bank Unions (UFBU) on Monday announced a nationwide strike on September 11 over the delay in implementing five-day banking, differences over the performance-linked incentive (PLI) scheme and several pending demands, including pension-related issues. Sharing a post on the social media platform X, the UFBU -- an umbrella body of nine bank employees' and officers' unions -- has threatened a three-day nationwide strike from September 28 coinciding with the half-yearly closure. Moreover, it further decided to launch an indefinite strike from October 26 if its demands are not addressed by the government and bank management.

The decisions were taken at a meeting on Sunday following what the UFBU described as the government's negative attitude towards major demands. If it goes ahead, the strike is expected to affect banking services, particularly in public sector banks for several days in parts of the country. In addition, September 11 falls on a Friday followed by two bank holidays, while September 14 is also a holiday in some states on account of Ganesh Chaturthi. On five-day banking, the unions said the Indian Banks' Association had agreed to the proposal as part of the 12th Bipartite Settlement/9th Joint Note signed on March 8, 2024. Under the proposal, working hours would increase by 40 minutes from Monday to Friday.

The proposal was subsequently recommended to the government but has remained pending for more than two years, the UFBU said. In addition, the unions have also opposed the government's PLI scheme for bank officers in Scale IV and above and said it differs from the understanding reached with the IBA on linking incentives to the overall performance of individual banks and maintaining uniformity across cadres. According to the UFBU, officers in Scale IV and above could receive PLI of up to 365 days of basic pay under the government scheme, based on individual performance, while workmen employees and officers up to Scale III would receive a maximum of 15 days' basic pay plus dearness allowance. Other unresolved demands include pension updation, a uniform dearness allowance formula for pensioners and an option for NPS-covered employees to switch to the old pension scheme.

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