The United Forum of Bank Unions (UFBU) says its three-day strike will begin on September 28 and run through September 30. The group, which says it represents 90% of India’s banking workforce, is pressing for a five-day work week alongside other demands. The action is scheduled to coincide with the banking sector’s half-yearly close, if it goes ahead as announced.
The dispute centres on a proposal that the Indian Banks’ Association reportedly accepted as part of the 12th Bipartite Settlement and 9th Joint Note signed on March 8, 2024. That arrangement envisaged adding 40 minutes to weekday working hours, from Monday to Friday. Government sources say the Finance Ministry gave no commitment to implement a five-day week; the proposal was recommended to the government and is still under consideration.
Authorities have announced measures to manage customer and payroll needs around the proposed stoppage. Public sector banks have been instructed to open on Sunday, September 27. A September 25 memorandum from the Controller General of Accounts also allows central government offices to disburse September salaries, wages and pensions early, including payments for defence, posts and telecommunications staff. The advance payment also covers industrial employees and central government pensioners, according to the memorandum.
The unions’ agenda extends beyond working days. It includes changes to pension arrangements, a uniform dearness-allowance formula for pensioners and an option for National Pension System members to move to the old pension scheme. Sources say several issues have already been resolved, including a family-pension revision for bank retirees and a pension option for employees who resigned. The demand to withdraw the Performance Linked Incentive scheme remains on hold.
Earlier in the week, the Finance Ministry urged bank employees not to strike and to settle remaining issues through dialogue, saying most union concerns had been substantially addressed. With the five-day-week proposal still pending and the strike dates approaching, the planned Sunday opening and early disbursements are the immediate steps authorities have announced for customers and government employees.