September 11 bank strike: Is it still on? Here's what unions said after conciliation meeting

Despite the government's decision to keep its new performance-linked incentive (PLI) scheme in abeyance, the United Forum of Bank Unions (UFBU) said that the September 11 bank strike is still on as there has been no positive development on their demand for a five-day banking week.

What are the demands?

The unions are demanding implementation of a five-day working week and withdrawal of the government's revised PLI scheme for senior bank officers.

The UFBU earlier said the Indian Banks' Association (IBA) had agreed under the 12th Bipartite Settlement/9th Joint Note, signed on March 8, 2024, to introduce a five-day working week by increasing daily working hours by 40 minutes from Monday to Friday.

The proposal was subsequently sent to the government for consideration.

“It is more than 2 years now and yet the matter is kept pending with the government,” the UFBU had said in its August 23 circular announcing the strikes.

The decision followed a meeting between Finance Minister Nirmala Sitharaman and a delegation of bank employees led by the Bharatiya Mazdoor Sangh.

The delegation had raised issues including the review of ex-gratia, medical facilities for retired employees and changes to the existing PLI structure.

The Finance Ministry said the PLI scheme dated November 19, 2024, would be kept in abeyance for FY 2025-26 and taken up during the ongoing Bipartite Settlement/Joint Note discussions.

The government also said it was committed to resolving the issues through dialogue, consultation and mutual understanding in the larger interest of bank employees, customers and the banking sector.

Deadlock over 5-day work week

However, the UFBU said after a conciliation meeting on Tuesday that the PLI issue had been addressed for the time being, but there was no “positive development” on five-day banking.

“Today in the conciliation meeting IBA & DFS informed that the Govt PLI scheme has been kept in abeyance & would be discussed with the unions. For 5 Day Banking there was no positive development so strike is On,” the UFBU said in a post on X on Tuesday.

It said that the Deputy Chief Labour Commissioner had scheduled another conciliation meeting for Wednesday afternoon.

On Wednesday, the UFBU posted: "STRIKE STANDS MARCH ON."

This means the September 11 strike remains scheduled unless there is a last-minute settlement between the unions and the authorities.

Several public sector banks have also informed stock exchanges about the strike notices and warned that banking operations could be affected if the strike takes place.

State Bank of India, in a regulatory filing dated September 7, said the UFBU had served notices for strikes on September 11, September 28-30 and an indefinite strike from October 26.

SBI said it had made necessary arrangements to ensure normal functioning of its branches and offices, but acknowledged that work could be impacted by the strike.

Bank of Baroda has similarly informed the exchanges about the UFBU strike notices, saying it was taking steps for smooth functioning of its branches and offices but operations may be affected if the strike materialises.

Punjab National Bank said the IBA had informed it about strike notices issued by the UFBU for September 11, September 28-30 and from October 26 onwards.

Extended disruptions to banking

If the September 11 strike materialises, bank branches could remain shut for an extended period in some parts of the country because September 12 is the second Saturday and September 13 is Sunday.

September 14 is also a bank holiday in several states on account of Ganesh Chaturthi.

Depending on the state or Union Territory, customers could face three or four consecutive days without normal branch operations from September 11.

However, digital banking services, including internet banking, mobile banking, UPI and ATMs, are generally expected to remain available.

The UFBU's seven constituents are the All India Bank Employees' Association, All India Bank Officers' Confederation, National Confederation of Bank Employees, All India Bank Officers' Association, Bank Employees Federation of India, Indian National Bank Employees Federation and Indian National Bank Officers' Congress.