MUMBAI: Banking services will remain unavailable for five consecutive days from September 26 to 30 due to a three-day nationwide bank strike following the weekend.
The strike, from September 28 to 30, has been called by the United Forum of Bank Unions (UFBU), an umbrella body of seven unions representing nearly 90% of bank officers and employees.
The unions are demanding immediate implementation of a five-day workweek, a proposal pending since the 2024 wage settlement. They are also seeking changes to the performance-linked incentive, which they claim was revised unilaterally and in a discriminatory manner.
Other demands include improved pensions, a uniform dearness allowance formula for retirees, restoration of the Old Pension Scheme in place of the National Pension System, and resolution of pending service and wage-related issues.
The government on Monday appealed to bank employees to withdraw the proposed strike and said that most concerns have already been addressed through negotiations and welfare measures. It also warned that the timing of the September 28-30 strike could affect banking operations as it coincides with the half-yearly closing of accounts.
The government said public sector banks recruited about 4.83 lakh employees between FY15 and FY26, while the Staff Welfare Fund was increased by 56% in August 2024. It also cited measures including higher pensions, enhanced medical insurance, streamlined promotion and transfer policies and special leave provisions.
On the PLI issue, the government said the scheme has been kept in abeyance following discussions with unions. However, differences remain unresolved. After a one-day strike on September 11, unions have announced the three-day action from September 28, followed by an indefinite strike from October 26.
Ahead of the strike, the State Bank of India has advised customers to complete branch-related banking work before September 28.
SBI said it is making efforts to ensure smooth functioning of essential banking services during the strike period.
