Union Bank of India to join bank strike on September 11

Union Bank of India will also join the strike called for September 11, Bloomberg reported on Wednesday.

The United Forum of Bank Unions (UFBU) has called for a nationwide bank strike on September 11 over the delay in implementing five-day banking and differences over the performance-linked incentive scheme.

The unions also have several pending demands, including issues related to pensions.

If the strike goes ahead, banking services, particularly at public sector banks, could be affected for four days in many parts of the country.

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Why Are Bank Unions Striking?

The UFBU has decided to strike over the delay in implementing five-day banking, differences over the performance-linked incentive scheme, and other pending demands. Pension-related issues are also among the concerns raised by the unions.

September 11 falls on a Friday. The following two days are bank holidays. As a result, a strike on Friday could lead to disruption in banking services extending across four days in many parts of the country.

The impact will depend on the participation in the strike and the functioning of individual banks.

UFBU, an umbrella body of nine bank employees’ and officers’ unions, has also threatened a three-day subsequent nationwide strike beginning September 28. They have also decided to go on an indefinite strike from October 26 onwards if their demands are not met.

On five-day banking, the body said the Indian Banks' Association (IBA) had agreed to the proposal as part of the 12th Bipartite Settlement/9th Joint Note signed on March 8, 2024, under which working hours would be increased by 40 minutes from Monday to Friday.

The proposal was subsequently recommended to the government, but has remained pending for more than two years, it said.