The United Forum of Bank Unions (UFBU), an umbrella body of seven bank employee and officer unions, has called a one-day strike on September 11.
Several public sector banks, including State Bank of India (SBI), Punjab National Bank (PNB), UCO Bank and Bank of Maharashtra, have informed customers that branch and office operations may be affected if employees participate in the strike.
Banks have said they have made arrangements to maintain operations, but have cautioned that services could be disrupted depending on employee participation.
SBI said it had made necessary arrangements to ensure normal functioning of branches and offices, but added that work at the bank could be affected by the strike.
PNB said the Indian Banks’ Association had informed it about strike calls issued by UFBU and other bank employee organisations. The bank said it was taking steps to maintain the functioning of its branches and offices, while cautioning that operations could be affected if employees join the strike.
Bank of Maharashtra said seven trade unions had proposed a one-day strike on September 11 over their demands. UCO Bank also said it had taken steps to ensure continuity of operations, while noting that branch and office functioning could be affected.
Why are bank unions on strike?
The unions have been seeking implementation of a five-day banking week, along with resolution of other employee-related issues.
Their demands include pension updation, a uniform dearness allowance formula for pensioners and an option for employees covered under the National Pension System to switch to the old pension scheme, among other issues.
The unions have also raised concerns over the performance-linked incentive (PLI) scheme for public sector bank employees.
The government has, however, put the implementation of the PLI scheme issued on November 19, 2024, for 2025-26 on hold. The Finance Ministry said the issue would be considered as part of the ongoing negotiations for a new bipartite settlement and joint note.
The decision followed a meeting between Finance Minister Nirmala Sitharaman and representatives of public sector bank employees, during which issues including the incentive scheme, ex-gratia payments and healthcare benefits for retired bank employees were discussed.
What happens after September 11?
UFBU has also called a three-day nationwide strike from September 28 to September 30. The unions have further threatened an indefinite strike from October 26 if their demands remain unresolved.
The September 11 strike is followed by the second Saturday on September 12 and Sunday, September 13. September 14 is a bank holiday in some states on account of Ganesh Chaturthi.
As a result, branch operations may remain unavailable for a longer period in some states, depending on the strike participation and the applicable bank holiday calendar
