Public Sector Bank unions, represented by the United Forum of Bank Unions (UFBU), have announced an all‑India strike starting on September 11. The unions are pressing for several demands, most prominently the implementation of a five‑day banking week, and the withdrawal of the Performance Linked Incentive (PLI) scheme introduced by the Finance Ministry.
The demand for a five‑day banking week has been pending for several years. Unions say banks agreed in principle to move to a five‑day week in 2015 when second and fourth Saturdays were declared holidays. The issue was revisited in 2020 and later formalised through a wage settlement signed on March 8, 2024. According to the unions, the agreement was recommended to the Finance Ministry more than two years ago but has not yet received government approval.
Unions also seek the removal of the unilateral PLI scheme, describing it as discriminatory. They contend that the scheme, originally agreed to be uniform for all employees up to Scale VII, was altered by the Finance Ministry to apply a 365‑day basic pay component for Scale IV officers and above based on individual performance, while limiting workmen and officers up to Scale III to a maximum of 15 days of basic pay plus DA.
If their demands are not met, the UFBU has warned of a three‑day strike from September 28 to 30 and an indefinite strike beginning on October 26, 2026. In a statement, the federation said, “By now all our unions and members are aware that the Government is taking a negative attitude on our important demands and issues.”
