Public sector bank employees will strike nationwide on September 11, followed by a three-day strike from September 28 to 30, and an indefinite strike starting October 26, despite the government withdrawing the controversial Performance-Linked Incentive (PLI) scheme. The United Forum of Bank Unions (UFBU) stated that their grievances extend beyond the PLI scheme, introduced by the Department of Financial Services in November 2024 for fiscal year 2025–26.
The unions also demand the long-pending implementation of a five-day banking week, as well as resolution of wage, service, and pension-related issues. Under the March 8, 2024 wage settlement, employees agreed to work an additional 40 minutes from Monday to Friday in exchange for all Saturdays becoming holidays. This proposal is still awaiting government approval.
The UFBU represents seven major bank employee and officer unions: All India Bank Employees’ Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), Bank Employees’ Federation of India (BEFI), Indian National Bank Employees’ Federation (INBEF), and Indian National Bank Officers’ Congress (INBOC).
The unions maintain that halting the PLI scheme does not address their broader demands, and they have decided to proceed with their planned industrial action until satisfactory resolutions are achieved.
