Nationwide Bank Strike on September 11: Four-Day Disruption Likely

The United Forum of Bank Unions (UFBU) has announced a nationwide bank strike on September 11 over several long-pending demands. The union said the key issues include the implementation of a five-day work week, pension-related reforms and differences over the performance-linked incentive scheme. The strike could affect banking services across India, particularly at public sector banks. The UFBU represents nine major bank employees’ and officers’ unions. It has accused the government of delaying the resolution of important demands.

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Banking Services May Face Four-Day Disruption

The September 11 strike falls on a Friday and could lead to a four-day disruption in banking services. Banks will remain closed on the second Saturday and Sunday following the strike. Some states may also observe a holiday on September 14 for Ganesh Chaturthi. As a result, customers may face delays in banking transactions and other services. The impact is expected to be more significant in public sector banks across the country.

The UFBU has also threatened to launch a three-day nationwide strike from September 28. The proposed strike will coincide with the half-yearly closing of banks. The union has further warned of an indefinite strike from October 26 if the authorities fail to address its demands. The decision came after a UFBU meeting on Sunday. The union criticised what it described as the government’s negative attitude towards its long-standing concerns.

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Pension Issues Remain Unresolved

The union said the Indian Banks’ Association had earlier agreed to a five-day work week with an additional 40 minutes of daily working hours. The agreement formed part of the 12th Bipartite Settlement and 9th Joint Note signed on March 8, 2024. However, the government has reportedly not approved the proposal even after more than two years. The UFBU has also opposed the government’s performance-linked incentive scheme. It argued that the scheme creates differences in incentives between senior officers and other employees.

The UFBU has demanded improvements and updates to the existing pension system for retired bank employees. It also wants a uniform dearness allowance formula for all pensioners. Another major demand is to allow employees covered under the National Pension System to switch to the Old Pension Scheme. The union said these issues have remained unresolved despite discussions and conciliation proceedings. It has warned that further industrial action may continue if the government and banks do not address the demands soon.

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