Bank employees to stage protest on 11 September:Branches to remain closed on 12 and 13 September too

Bank employees and officers across the country may go on strike in September and October. The United Forum of Bank Unions (UFBU) has announced a nationwide strike in phases during September and October over two major demands. The main demands of the bank unions are to approve a 5-day work week and to withdraw the new Performance-Linked Incentive (PLI) scheme implemented by the government. If the government and bank management do not accept the demands, an indefinite strike will begin in banks across the country from October 26. Approval for 5-day banking stuck for 2 years UFBU says that on March 8, 2024, the 12th Bipartite Settlement and 9th Joint Note were signed with the Indian Banks Association, i.e., IBA. There was consensus on implementing 5-Day Banking. Under this, employees will work 40 minutes extra daily from Monday to Friday. IBA had approved this proposal and sent it to the central government, but even after more than two years have passed, the Finance Ministry has not given its approval. What is the 5-Day Banking proposal? Controversy over new PLI Scheme: Benefits for senior officers, discrimination against lower staff Unions have opposed the new PLI guidelines issued by the Department of Financial Services, Ministry of Finance. The unions allege that this scheme is discriminatory: UFBU argues that PLI should be entirely based on the bank’s overall performance and all employees up to Scale VII should receive incentives for an equal number of days. This new rule violates the agreement reached between IBA and the unions. Matter reaches Delhi High Court and Labour Commissioner The dispute regarding the PLI scheme is now pending under the conciliation process before the Chief Labour Commissioner. Additionally, this matter has also been challenged in the Delhi High Court. The unions have demanded that the incentive scheme be amended through bilateral negotiations. Demands for Pension Updation and OPS as well Apart from the main reasons for the strike, bank unions have also raised several old demands again: