Bank strike on September 11: Unions refuse to withdraw call as talks with govt remain inconclusive

Bank unions have refused to withdraw their proposed nationwide strike after talks with the government and the Indian Banks' Association (IBA) failed to produce an agreement on their key demand for a five-day banking week.

The United Forum of Bank Unions (UFBU), comprising seven unions and associations, has given notice for an all-India strike on September 11, followed by further strike action on September 28, 29 and 30. The unions have also threatened an indefinite strike in October if their demands remain unresolved.

The development came during conciliation proceedings held on September 8 by the Office of the Chief Labour Commissioner under the Ministry of Labour and Employment.

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Five-day banking remains key demand

The unions said implementation of five-day banking, as agreed in the Settlement/Joint Note dated March 8, 2024, remains their principal demand.

Their other demands include withdrawal of the government's PLI (Performance-Linked Incentives) scheme, modification of the scheme through bilateral discussions with unions, and resolution of residual issues.

Today, in the conciliation meeting, the Department of Financial Services (DFS) informed that the PLI scheme has been kept in abeyance and would be discussed with the unions.

During the proceedings, the DFS said the five-day banking proposal involved various stakeholders and remained under consideration. However, it did not provide a definite timeline for a decision.

The DFS said approximately 50% of the demands raised by the unions had been addressed and urged them to reconsider the strike.

The IBA also appealed to the unions to withdraw the strike call, saying the five-day banking issue was under consideration.

The unions, however, said they had been pursuing five-day banking since 2024 and that no final decision had been taken despite considerable time having passed.

They told the conciliation officer that unless the demand was accepted or the government provided a definite timeline for its implementation, they would not be in a position to defer the proposed strike.

The DFS again urged the unions to reconsider their decision in view of the BRICS Meeting being hosted by India on September 11. The unions maintained their position but said they would reconsider if there was a positive development before the scheduled strike.

With the two sides unable to reach a common understanding, the conciliation proceedings remained inconclusive. The meeting has now been adjourned to September 9 at 1:30 PM via video conference.

The Chief Labour Commissioner has also reminded the unions and bank managements that, with the strike notice under conciliation, they are required to comply with the provisions of Section 62 of the Industrial Relations Code, 2020.