Today's bank strike: Why unions are holding a nationwide protest, what are their demands | Explained

Banking services, especially in public sector banks across the country, were affected on Friday (September 11) after the United Forum of Banking Unions (UFBU) called a nationwide strike.

The strike call issued by UFBU, the umbrella body of seven unions representing 90 percent of officers and employees, did not affect the functioning of private sector banks, news agency PTI reported.

However, most branches of public sector banks were either fully or partially closed as both staff and officers observed the strike.

Read also | ‘This strike is being forced on us’: Banking services strike as unions demand 5-day working week

All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam said nearly eight lakh employees, officers and managers participated in the strike.

The UFBU has decided to hold a one-day strike on September 11 and a three-day nationwide strike from September 28 to 30. The union has warned that an indefinite nationwide strike will begin on October 26, 2026 if their demands are not met.

“The next strike will be on September 28, 29 and 30, three consecutive days. If it is still not resolved, then it will be an indefinite strike from October 26,” All India Bank Employees’ Association (AIBEA) general secretary CH Venkatachalam said.

Read also | Banking services affected as unions go on nationwide strike to push for 5-day working week

What are the requirements of bank employees?

Unions have called for a nationwide strike to push for the immediate introduction of a five-day working week and resolve outstanding pay issues.

According to the UFBU’s official statement, the union has made four main demands, which include:

1. Introduction of a 5-day banking week; declaration of all Saturdays as holidays

2. Abolition of government performance-linked incentive (PLI) programs.

3. Modification of the incentive scheme through bilateral negotiations; non-discriminatory incentive system for employees and officials

4. Resolution of outstanding issues, including those related to pensions

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Venkatachalam said the main demand is for the government to approve a five-day banking week – as reportedly agreed during the 12th bipartite agreement signed with the Indian Banks Association (IBA) in March 2024, but the government’s announcement is awaited.

The All India Bank Officers’ Confederation (AIBOC) said on September 9 that two rounds of online meetings were held. “There was no concrete result in the five-day work week,” the union said.

Meantime, FUBU said on 8th September: “In conciliation meeting today IBA & DFS informed that govt PLI scheme has been suspended and will be discussed with union. No positive development in 5 day banking so there is strike. However Dy CLC again held conciliation meeting in afternoon.”

what is it about Explained

Right now, two Saturdays (second and fourth of the month) are holidays; the remaining Saturdays (first, third and fifth) are working days. “We agreed to extend working hours from Monday to Friday, so we asked that all Saturdays be holidays,” he said.

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 matter was revisited in 2020 and later formalized through a wage settlement signed on March 8, 2024.

Under this arrangement, bank employees agreed to work an extra 40 minutes each day, Monday through Friday, in exchange for declaring all Saturdays a holiday.

The union said the deal was recommended to the Treasury more than two years ago but is still awaiting government approval.

Many also complained that working on Saturdays affected the work-life balance of employees.

“The most important reason is 5-day banking…our colleagues work hard day and night. This affects their work-life balance…We first requested this in 2012. In 2015, we were given two Saturdays off as per written agreement; 24 Saturdays in a year were given as leave…,” said Kushal Gupta, its president All India Bank Officers’ All India Bank Officers’ All India (All India Bank Officers)

In addition, the union said in its statement declaration that the government also failed to comply with the 2020 agreement to pay a uniform incentive based on the performance of the bank as a whole ranging from 5 days’ wages to 15 days’ wages depending on the banks’ profits.

“The government has come up with a revised discrimination scheme that is based on individual performance and leads to division of the workforce,” he added.