New Delhi, Sep 1: Bank employees' unions are preparing for nationwide strikes over long-pending demands, including the implementation of a five-day banking week and changes to the government's Performance Linked Incentive (PLI) scheme.
The United Forum of Bank Unions (UFBU) has announced a one-day strike on September 11, followed by another strike from September 28 to 30. The unions have warned that an indefinite strike could begin from October 26 if the issues remain unresolved.
The five-day banking week remains one of the main concerns. Bank unions say the Indian Banks' Association had agreed to the proposal under the 2024 wage settlement, with employees expected to work slightly longer hours from Monday to Friday to compensate for the additional weekly holiday. However, the proposal has been awaiting final implementation.
Another major point of disagreement is the revised PLI scheme. The unions have raised concerns over differences in incentives across employee and officer categories and are seeking withdrawal or modification of the scheme through discussions with the unions.
The unions are also seeking the resolution of other pending service-related matters, including issues concerning pensions and employee benefits.
The proposed strikes could affect banking operations, particularly at physical branches, if employees participate on a large scale. Customers may therefore face delays in routine branch-based services on strike days, while digital banking facilities may continue to operate depending on individual banks and services.
The unions have indicated that they want the outstanding issues to be resolved through dialogue. The response from the government, bank management and the Indian Banks' Association in the coming weeks will determine whether the planned strikes are carried out or further industrial action is avoided.
The dispute comes at a time when banks are playing an increasingly important role in India's growing economy, making a negotiated settlement important for both employees and customers.