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Bank unions propose three-day strike over five-day workweek demands
Bank employees’ unions in India have proposed a three-day strike.
It would take place from September 28 to 30.
The unions want banks to operate five days a week instead of the current arrangement.
They say this change was agreed to in principle during a wage settlement in March 2024.
They also want changes to pensions and the performance-linked incentive system.
Employees covered by the National Pension System should be allowed to return to the old pension scheme, according to the unions.
Since the two days before the strike are a weekend, some bank services could be affected for five days in a row.
The Finance Minister is meeting banking leaders to help keep essential services available.
The Union Forum of Bank Unions and seven other unions proposed a nationwide strike from September 28 to 30.
The unions represent about 90% of India’s banking workforce, according to the report.
Their main demand is implementation of a five-day working week agreed to in principle in March 2024.
Other demands include pension revisions, a uniform pension formula, an old-pension option for National Pension System employees, and ending the revised performance-linked incentive scheme.
Because September 26 and 27 are a weekend, branch banking services could face five consecutive days of disruption; authorities are planning contingencies.
- Who
- The Union Forum of Bank Unions and seven other unions representing about 90% of India’s banking workforce.
- What
- A proposed three-day nationwide bank strike over a five-day workweek, pension changes, and the performance-linked incentive scheme.
- Where
- Across India, affecting branch banking services.
- When
- September 28 to 30; September 26 and 27 are the preceding weekend.
- Why
- The unions are seeking implementation of a five-day working week and changes to pension and incentive arrangements.
Bank unions
Banking authorities
Five-day working week
Bank unions
Unions are demanding implementation of a five-day working week, which they say was agreed to in principle in March 2024.
Banking authorities
Authorities are focused on finalising contingency measures to keep essential banking services running during the proposed strike.
Strike impact
Bank unions
The unions have proposed a nationwide three-day strike to press their demands.
Banking authorities
The Finance Minister is consulting public-sector banks, regional rural banks, the Indian Banks’ Association, and NABARD about managing possible service disruptions.
Key facts
- Strike dates
- September 28–30
- Unions involved
- The Union Forum of Bank Unions and seven other unions
- Workforce represented
- About 90% of India’s banking workforce
- Main demand
- Implementation of a five-day working week
- Prior agreement
- The five-day week was agreed to in principle during the March 2024 wage settlement
- Potential disruption
- September 26–30 could create five consecutive days of disruption to branch banking services
- Contingency planning
- The Union Finance Minister has called banking-sector leaders to discuss continuity of essential services
Sources
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