- UFBU calls nationwide bank strike on September 11.
- Demands include a 5-day work week and a pension scheme resolution.
- Strike could disrupt banking services for four days.
The United Forum of Bank Unions (UFBU) announced that it has decided to go on a nationwide strike on September 11 over the delay in resolution of their long-standing demands that includes five-day week working, differences over the performance-linked incentive scheme, and several others.
If the strike call holds and materialises, then it will impact banking services across the nation for four days–especially in public sector banks.
Banking Services May Be Impacted For Four Days- Sept 11- Sept 14
The strike is scheduled for September 11, which is Friday, and the banks will be closed on Saturday–for the second Saturday–and Sunday. Additionally, September 14 could be a holiday in some states on the occasion of Ganesh Chaturthi.
UFBU Threatened For Strike On September 28
The UFBU, an umbrella body of nine bank employees' and officers' unions, has also threatened a three-day nationwide strike from September 28, coinciding with a half-year shutdown.
They said they may plan an indefinite strike from October 26 if their demands are not met.
A UFBU statement said the decision was taken at a meeting on Sunday in response to what the unions described as the government's "negative attitude" towards their core demands.
What the Union Said On Their Demands
5-Day Working: Demand Remains Pending At Gov End
According to the Union, Banks' Association (IBA) had, earlier, agreed to the 5-day working proposal with an 40 minutes increase in working hours as part of the 12th Bipartite Settlement/9th Joint Note signed on March 8, 2024.
However, the proposal, as per the union, has remained pending for more than two years at the government end.
Objection to PLI Scheme
It also objected to the government's PLI scheme for bank officers in Scale IV and above, stating that it deviated from the understanding reached with the IBA that performance-linked incentives would be linked to the overall performance of private banks and would be uniform for employees and officers up to Scale VII.
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Under the government's scheme, officers in Scale IV and above can receive up to 365 days of basic pay PLI based on individual performance, while labour employees and officers up to Scale III will receive a maximum of 15 days of basic pay plus dearness allowance.
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Following the UFBU's strike call, the PLI claimed that the matter is currently being resolved before the Chief Labour Commissioner and is also pending in the Delhi High Court.
The UFBU further alleged that despite conciliation proceedings and the offer of bilateral talks with the IBA, the Department of Financial Services has advised banks to implement the government's performance-linked incentive scheme.
The UFBU said that credit for performance-linked incentives under the DFS scheme has now actually started accruing to banks, and alleged that it has violated the conditions of the status quo during the reconciliation proceedings.
Old Pension Scheme Should Be Implemented
The other residual demands, including updating and improvement of pension, a uniform dearness allowance formula for all pensioners and an option for employees covered under the National Pension System (NPS) to switch to the old pension scheme (OPS), also remained unresolved.
(With Inputs From Agencies)