2 hrs ago
Finance Ministry Urges Bank Employees to Refrain From Strike
Bank employees’ unions have two main requests.
They want banks to operate five days a week instead of having some Saturday services.
They also want the Performance Linked Incentive scheme withdrawn.
The Finance Ministry says the incentive scheme has already been put on hold.
It says the five-day-week request is still being discussed.
Workers held a one-day strike on September 11 and planned another strike from September 28 to 30.
The ministry says this could disrupt banking for five days because of the weekend and the September 30 half-yearly closing.
It is asking employees to settle the disagreement through talks instead of a strike.
Bank unions are seeking a five-day banking week and withdrawal of the Performance Linked Incentive scheme.
The Finance Ministry says the PLI scheme has been kept in abeyance, while the remaining demand is still under examination.
Unions held a one-day strike on September 11 and planned a three-day strike from September 28 to 30.
The ministry warned that the strike, combined with the preceding weekend, could create an effective five-day banking-service closure.
The government cited salary revisions, recruitment, welfare measures and expanded staff benefits as steps taken for bank employees.
- Who
- The Finance Ministry and bank employees’ unions.
- What
- The ministry urged bank employees not to join a planned three-day strike and to resolve demands through dialogue.
- Where
- The statement concerns banking services and public sector banks; no specific location is stated.
- When
- A one-day strike took place on September 11; the planned three-day strike is from September 28 to 30.
- Why
- Unions are seeking a five-day banking week and withdrawal of the PLI scheme, while the ministry says one demand has been addressed and the other remains under examination.
Bank Employees’ Unions
Finance Ministry
Five-day banking week
Bank Employees’ Unions
Unions are demanding implementation of a five-day banking week.
Finance Ministry
The ministry says the remaining demand is still being examined and urges employees to continue resolving it through dialogue.
Performance Linked Incentive scheme
Bank Employees’ Unions
Unions have demanded withdrawal of the PLI scheme.
Finance Ministry
The ministry says the scheme has already been kept in abeyance after discussions with the unions.
Strike action
Bank Employees’ Unions
Unions held a one-day strike on September 11 and planned a three-day strike from September 28 to 30.
Finance Ministry
The ministry says a strike would inconvenience customers, businesses, government transactions and international banking operations, particularly during the September 30 half-yearly closing.
Key facts
- Union demands
- A five-day banking week and withdrawal of the Performance Linked Incentive scheme.
- PLI status
- The government says the PLI scheme has been kept in abeyance after discussions with unions.
- Planned strike
- September 28-30, according to the Finance Ministry statement.
- Previous strike
- A one-day strike was held on September 11.
- Potential disruption
- The ministry says the strike and preceding weekend could produce an effective five-day closure of banking services.
- Staff recruitment
- Public sector banks reportedly recruited about 482,800 employees between FY2014-15 and FY2025-26.
- Workforce filling rates
- As of July 1, 2026, 95.84% of officer positions and 92% of subordinate and award staff positions were filled.
- Staff Welfare Fund
- The fund of public sector banks was increased by 56% in August 2024.
Quotes
Finance Ministry
The government ministry responsible for finance and banking policy
“Given that most concerns of the Unions have been substantially addressed, that the remaining demand continues to be examined, and that the Government continues to proactively introduce welfare measures for the banking workforce, bank employees are urged to refrain from resorting to strikes, work towards resolving issues through dialogue, and ensure that banking services remain uninterrupted.”
businesstoday.in
“A disruption of this nature, combined with the preceding weekend, would result in an effective five-day closure of banking services at a particularly sensitive point in the financial calendar - causing considerable inconvenience to customers, businesses, government transactions, and international banking operations.”
businesstoday.in
Sources
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