Bank Strike on September 11: UFBU Calls Nationwide Protest Over 5-Day Banking and Pending Demands
The United Forum of Bank Unions has announced a nationwide strike on September 11 over delayed five-day banking, PLI disputes, and pension demands. The action could disrupt services for four days until September 14, followed by further strikes in late September and October. Scroll below to know more.
The United Forum of Bank Unions (UFBU) has announced a nationwide strike on September 11, citing prolonged delays in implementing five-day banking, disputes over the performance-linked incentive (PLI) scheme, and other key pension-related demands. If the action proceeds, banking services - particularly across public sector institutions - will face significant disruptions for four consecutive days in many parts of the country.
September 11 falls on a Friday, with the following two days designated as regular weekend bank holidays, while September 14 marks a regional holiday for Ganesh Chaturthi in several states, reports PTI. Raksha Bandhan 2026 Bank Holiday: Will Banks Remain Open or Closed on August 28?
Core Demands and Stalled Negotiations
The decision was taken at a meeting following what the unions described as the government's "negative attitude" towards their key demands. The umbrella organization representing nine bank employee and officer unions points to the unfulfilled agreement under the 12th Bipartite Settlement and 9th Joint Note, signed on March 8, 2024. Under that agreement, the Indian Banks' Association (IBA) accepted the introduction of a five-day work week by extending daily working hours by 40 minutes from Monday to Friday. However, the proposal remains pending government approval more than two years later.
Unions are also strongly protesting the Finance Ministry's revised framework for the performance-linked incentive (PLI) scheme, arguing it diverges from the understanding reached with the IBA. According to the UFBU, the scheme was intended to be based on the overall performance of individual banks and remain uniform for employees and officers up to Scale VII. Instead, under the government's current framework, officers in Scale IV and above can receive PLI of up to 365 days of basic pay based on individual performance, while workmen and junior officers up to Scale III face a cap of 15 days' basic pay plus dearness allowance.
The unions noted that the PLI issue is currently under conciliation before the Chief Labour Commissioner (CLC) and pending before the Delhi High Court. They alleged that the Department of Financial Services (DFS) advised banks to implement the government's framework and that banks have begun crediting payments, violating the status quo obligation during conciliation. Additional unresolved issues include pension updation and improvement, a uniform dearness allowance formula, and options for National Pension System (NPS) members to transition to the Old Pension Scheme (OPS). Bank Holidays Next Week: Check State-Wise Branch Closures From August 24 to August 30.
Phased Escalation and Future Action
Following the one-day strike on September 11, the UFBU has scheduled a subsequent three-day nationwide strike from September 28 to 30, coinciding with the half-yearly closing period. Furthermore, the umbrella body has warned that if the government and bank managements fail to address their grievances, an indefinite nationwide strike will commence starting October 26.
(The above story first appeared on LatestLY on Aug 24, 2026 11:31 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
