UFBU has announced a four-day nationwide bank strike in September, with protests on September 11 and September 28–30
The union's key demand is a five-day banking week, along with pension revision and changes to the revised PLI scheme
UFBU has warned of an indefinite nationwide strike from October 26 if its demands remain unresolved
Banks To Shut For 4 Days In September? Check Strike Dates And What Will Be Affected
The UFBU has planned the first nationwide strike for September 11. This will be followed by another three-day strike from September 28 to September 30.
Bank Union Announce September Strikes, Warn of Indefinite Shutdown From October 26
Summary
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Banking services across India are likely to be disrupted in September as the bank union United Forum of Bank Unions (UFBU) announced a four-day nationwide strike over a series of long-pending demands, including changes to the working days of banks and the proposal for five banking days a week.
The UFBU has planned the first nationwide strike for September 11. This will be followed by another three-day strike from September 28 to September 30.
With September 12 and 13 being a Saturday and Sunday, the first strike could lead to a longer disruption around the weekend. Similarly, September 26 and 27 fall on the fourth Saturday and Sunday, meaning banking services could remain affected for several consecutive days during the second round of protests.
The UFBU's main demand is the implementation of a five-day banking week. According to the unions, the Indian Banks' Association (IBA) agreed to the proposal as part of the 12th Bipartite Settlement/9th Joint Note signed on March 8, 2024.
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Under the proposed arrangement, employees would work an additional 40 minutes from Monday to Friday, allowing all Saturdays to become holidays. The unions have said the proposal was subsequently sent to the government but has remained pending for more than two years.
Another major point of disagreement is the government's revised Performance Linked Incentive (PLI) scheme. Bank unions have opposed the structure, arguing that it disproportionately benefits senior officers.
According to the unions, officers in Scale IV and above could receive incentives of up to 365 days of basic pay under the revised formula, while employees and officers up to Scale III would have a maximum incentive of 15 days' basic pay plus dearness allowance.
Apart from five-day banking and the PLI issue, the unions have raised several pending matters related to pension revision, a uniform dearness allowance formula for pensioners, and an option for employees covered under the National Pension System to move to the Old Pension Scheme.
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The UFBU has said that if these issues remain unresolved, the agitation will escalate into an indefinite nationwide strike from October 26.