Bank Unions announce strikes in September and October
New Delhi: The United Forum of Bank Unions (UFBU) has announced a day-long strike on September 11 over the delayed implementation of a five-day banking week, the revised performance-linked incentive (PLI) scheme and several pending pension-related demands.
The UFBU has also announced a three-day strike from September 28 to 30 over the same issue.
The unions have also threatened an indefinite strike from 26 October if their demands remain unresolved.
The introduction of a five-day banking week remains a key demand.
The Indian Banks’ Association (IBA) and unions had agreed in December 2023 to recommend declaring all Saturdays holidays, with the proposal subsequently included in the 2024 wage settlement.
Government approval and regulatory clearances are still awaited. Under the proposed arrangement, banks would remain closed on all Saturdays while working hours on the other five days would increase by around 40 minutes a day.
The unions are also opposing the revised PLI framework introduced by the Department of Financial Services for senior officers from Scale IV to Scale VIII in public sector banks. UFBU has argued that the revised system replaces the earlier uniform, bank-linked incentive with individual performance-based payouts.
The agitation also covers unresolved issues arising from the 12th Bipartite Settlement and 9th Joint Note, including pension updates, improvements in pension benefits, a uniform dearness allowance formula for pensioners and medical insurance-related matters.
At a recent meeting with the IBA, unions reiterated their concerns over the PLI framework and the delay in five-day banking.
They also raised demands for adequate security at bank branches and a uniform DA formula for pensioners.
The latest announcement escalates the dispute between bank unions, the IBA and the government over implementation of commitments and changes to employee incentive structures. (BVI)
