Bank Unions Threaten Nationwide Strikes Over PLI Row, 5-Day Workweek Demand

The United Forum of Bank Unions (UFBU) has announced a series of nationwide strikes over the implementation of a five-day banking week and the government's performance-linked incentive (PLI) scheme for bank employees and officers.

The umbrella body of bank unions has called a one-day all-India strike on September 11, followed by a three-day strike during the last week of September.

It has also announced an indefinite strike from October 26 if its demands remain unresolved.

5-Day Banking Demand

According to the UFBU's August 23 circular, the unions are seeking implementation of the five-day banking arrangement agreed under the 12th Bipartite Settlement and 9th Joint Note signed on March 8, 2024.

Under the arrangement, working hours would increase by 40 minutes from Monday to Friday, allowing banks to remain closed on Saturdays.

UFBU said the proposal was recommended to the government but has remained pending for more than two years.

The UFBU has also raised residual issues including pension updation and improvement, a uniform dearness allowance formula for pensioners, and an option for employees covered under the National Pension System (NPS) to shift to the Old Pension Scheme (OPS).

Dispute Over PLI Framework

The unions have also demanded that the government's revised PLI scheme be withdrawn or kept in abeyance and that any changes be negotiated bilaterally with the unions.

UFBU has opposed the Finance Ministry's PLI framework, saying it departs from the understanding reached with the Indian Banks' Association (IBA) that incentives would be linked to the overall performance of individual banks and would be uniform across employees and officers up to Scale VII.

"The officers from Scale IV and above would be paid PLI upto 365 days of Basic Pay based on their individual performance while workmen employees and officers upto Scale III would be paid a maximum of 15 days Basic Pay+DA," the Union said in the circular.

UFBU said the PLI dispute is currently before the Chief Labour Commissioner (CLC) for conciliation and is also being contested in the Delhi High Court. It said the government has nevertheless directed banks to proceed with implementation.

Bank Unions Strike Schedule

According to the circular, the Bank Unions have called for a strike on September 11. Then a three day strike from September 28 to 30.

An indefinite strike from October 26 is also planned if demands are not met.

Apart from the three major strike phases, the unions have announced demonstrations, press meetings, badge-wearing campaigns and other protest programmes across September and October.

The unions said the agitation was necessary after their demands remained unresolved and called on members to participate in the scheduled programmes.