All India Financial institution Workers Affiliation Common Secretary C. H. Venkatachalam speaks throughout a press convention asserting the nationwide strike motion over their pending calls for on the Press Membership of India, in New Delhi on September 1, 2026.
| Photograph Credit score: ANI
Public Sector Financial institution unions, represented by the United Discussion board of Financial institution Unions (UFBU), have referred to as a collection of all-India strikes from September 11 to press their calls for, together with one on the implementation of a five-day banking week.
They’ve additionally requested the federal government to withdraw the “unilateral and discriminatory Efficiency Linked Incentive (PLI) scheme” and hold it’s implementation in abeyance. Asking for a modification of the scheme by bilateral discussions with Unions, they’ve requested the federal government to resolve all residual points.
Failing which they’ve referred to as a three-day strike from September 28 to 30. If its calls for usually are not addressed even then, the unions have introduced an indefinite strike from October 26, 2026.
“By now all our unions and members are conscious that the Authorities is taking a unfavorable angle on our vital calls for and points,” the UFBU stated in a press release.
The demand for a five-day banking week has been pending for a number of years. In accordance with the unions, banks agreed in precept to maneuver in direction of a five-day week in 2015, when the second and fourth Saturdays have been declared holidays. The problem was revisited in 2020 and later formalised by the wage settlement signed on March 8, 2024.
The unions stated the settlement was beneficial to the Finance Ministry greater than two years in the past however remains to be awaiting authorities approval. It’s greater than 2 years now and but the matter is saved pending with the Authorities, the discharge stated.
The Efficiency Linked Incentive scheme is one other main level of dispute. “On the problem of PLI additionally, it was clearly understood and agreed between the Unions and IBA that the PLI scheme could be primarily based on the efficiency of the Financial institution as an entire and could be uniform variety of days for all staff and officers upto Scale VII,” it acknowledged.
“However in a unilateral method, DFS/Finance Ministry has directed Banks to implement a distinct PLI scheme for Scale IV officers and above. Below this Scheme, the officers from Scale IV and above could be paid PLI upto twelve months of Fundamental Pay primarily based on their particular person efficiency whereas workmen staff and officers upto Scale III could be paid a most of 15 days Fundamental Pay+DA,” the assertion added.
Printed – September 01, 2026 05:00 pm IST
