Banking Unions Intensify Movement with Nationwide Strike Announced for September 11

New Delhi, August 24: The United Forum of Bank Unions (UFBU), representing nine major organizations of bank employees and officials, has decided to escalate their movement over pending demands. The unions have announced a nationwide strike on September 11.

UFBU shared this information on the social media platform X, warning that if there is no positive action on their demands, a three-day nationwide strike will commence from September 28, followed by an indefinite strike starting October 26.

This decision was made due to a lack of expected progress on key demands from the government and bank management, as discussed in a meeting held on Sunday.

If the proposed strikes take place, there could be a significant impact on services across the country, particularly in public sector banks. Banking transactions, branch services, check clearing, and other routine operations may be disrupted.

The unions emphasize that a five-day banking system is among their primary demands. According to UFBU, the Indian Banks Association (IBA) had agreed to this proposal during the 12th bilateral agreement and the 9th joint note on March 8, 2024.

The proposal includes extending daily working hours by 40 minutes from Monday to Friday, with Saturdays designated as a holiday. The unions claim that despite sending this proposal to the government over two years ago, no final decision has been made.

Additionally, the unions are opposing the Performance Linked Incentive (PLI) scheme being implemented for bank officials. They argue that there is a discrepancy between the government’s proposed plan and the agreement made with the IBA.

According to UFBU, under the government scheme, scale-IV and higher officials could receive PLI equivalent to their basic salary for up to 365 days based on individual performance. In contrast, employees and scale-III officials would only receive a maximum of 15 days’ basic salary and dearness allowance as incentive.

The unions assert that the incentive system should be linked to the overall performance of the bank and ensure equality for all cadres.

Other key demands from UFBU include pension updates, a uniform dearness allowance formula for pensioners, and the option for employees under the National Pension System (NPS) to switch to the old pension scheme.