The United Forum of Bank Unions (UFBU) has warned of a nationwide strike on September 11, which could cripple public‑sector banking services for four days. Their core demands include a five‑day work week and changes to the performance‑linked incentive (PLI) scheme.

  • UFBU plans a nationwide strike on September 11.
  • Key demands: five‑day banking week and revision of the PLI scheme.
  • The strike could disrupt public‑sector bank services for up to four days across several states.

New Delhi (PTI) – The United Forum of Bank Unions (UFBU), an umbrella body representing nine major bank employee and officer unions, has threatened a nationwide strike on September 11. The action is aimed at pressuring the government to adopt a five‑day banking week, overhaul the performance‑linked incentive (PLI) framework, and address pending pension‑related issues.

If the strike materialises, banking services—especially in public‑sector banks—could be impacted for four days (September 11‑14). September 11 falls on a Friday, followed by two bank holidays, and September 14 is a holiday in several states for Ganesh Chaturthi, extending the disruption.

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UFBU has also warned of a three‑day strike starting September 28, coinciding with the half‑yearly closure, and an indefinite strike from October 26 if its demands remain ignored. The decision was taken at a Sunday meeting where the union criticised the government’s “negative attitude” toward its core demands.

The five‑day banking proposal was endorsed by the Indian Banks' Association (IBA) in the 12th Bipartite Settlement dated March 8 2024, which called for a 40‑minute increase in working hours from Monday to Friday. Despite this, the proposal has lingered without government approval for more than two years.

The unions also object to the government’s PLI scheme for officers of Scale IV and above, which allows up to 365 days of basic pay as a performance bonus, while employees up to Scale III receive a maximum of 15 days’ basic pay plus dearness allowance. The matter is currently under conciliation before the Chief Labour Commissioner (CLC) and pending before the Delhi High Court.

Why This Matters

BozokMedia analysis shows that a prolonged banking strike could ripple through India’s credit markets, delay loan disbursements, and pressure the government to accelerate labor‑reform negotiations, especially ahead of the upcoming fiscal year.

“Altering the banking workweek not only impacts employee welfare but also poses a systemic risk to the stability of the entire financial ecosystem,” says economist Dr. Anita Singh.
Did You Know?: Indian bank employees first demanded a five‑day workweek in the early 1990s, but the proposal has been repeatedly postponed.

Frequently Asked Questions

Q1: What does a five‑day banking week entail?
A: Banks would operate from Monday to Friday, with Saturday and Sunday designated as full holidays.

Q2: How will the strike affect ordinary customers?
A: ATMs, online transactions, and branch services could be unavailable for several days, leading to cash‑withdrawal delays and payment disruptions.