Bank unions call nationwide strike on 9/11 over ‘residual issues’; demand five-day banking week

All India Bank Employees Association General Secretary CH Venkatachalam speaks during a press conference announcing the nationwide strike action for their pending demands at the Press Club of India in Delhi on September 1, 2026. | Photo credit: ANI

Public sector bank unions, represented by the United Forum of Banking Unions (UFBU), have called a series of all-India strikes since September 11 to press their demands, including one for the introduction of a five-day banking week.

They also asked the government to withdraw the “one-sided and discriminatory performance-related incentive (PLI) system” and leave its implementation alone. Requesting modification of the scheme through bilateral discussions with the unions, they asked the government to resolve all outstanding issues.

If they fail, they have announced a three-day strike for September 28-30. If her demands are not resolved even after that, the unions have announced an indefinite strike from October 26, 2026.

“All our unions and members are now aware that the government is taking a negative stance on our important demands and issues,” the UFBU said in a statement.

The demand for a five-day banking week has been going on for several years. According to the union, the banks agreed in principle to switch to a five-day week in 2015, when the second and fourth Saturdays were declared holidays. The issue was revisited in 2020 and later formalized through a wage settlement signed on March 8, 2024.

The union said the deal was recommended to the Treasury more than two years ago but is still awaiting government approval. It has been more than 2 years and yet the matter is being discussed with the government, the report said.

The performance-related incentive system is another major point of contention. “Also on the issue of PLI, it was clearly agreed and agreed between the unions and the IBA that the PLI scheme will be based on the performance of the bank as a whole and will have a uniform number of days for all employees and executives up to scale VII,” he said.

“However, unilaterally, DFS/Ministry of Finance has directed the banks to implement a different PLI scheme for officers in Grade IV and above. Under this scheme, officers in Grade IV and above would get PLI of up to 365 days of Basic Pay based on their individual performance, while labourers, employees and officers up to Grade III would get a maximum of 15 days of Basic Pay+DA,” the statement added.

Published – 01 Sep 2026 17:00 IST