Bank unions in India announce strikes over working week and incentive schemes

The United Forum of Bank Unions (UFBU), representing over 90 per cent of India's banking workforce, has announced a series of strikes due to unresolved labor issues. The forum, which includes seven unions, has scheduled a one-day strike for September 11, followed by a three-day strike from September 28 to 30. If demands remain unmet, the unions have threatened an indefinite strike starting October 26, 2026.

The unions have presented four primary demands: the implementation of a five-day banking week, the withdrawal of the government’s revised Performance Linked Incentive (PLI) scheme, the modification of the incentive scheme through bilateral discussions, and the resolution of other pending residual issues.

The dispute over the five-day work week stems from a 2024 wage settlement where employees agreed to work an additional 40 minutes daily in exchange for all Saturdays being declared holidays. However, the unions state this arrangement is still awaiting government approval. Additionally, the unions are contesting a revised PLI formula for Scale IV to VII officers, which they argue deviates from previous uniform applications of the scheme.