Indian Bank Unions Call for Nationwide Strikes Over Key Demands

India's banking sector is bracing for major disruptions as the United Forum of Bank Unions (UFBU) has announced a nationwide strike on September 11, 2026, followed by further protests. This comes after unions expressed frustration over delays in implementing a five-day banking week, disagreements on the Performance-Linked Incentive (PLI) scheme, and long-pending pension-related issues. The one-day strike could lead to a four-day banking service outage in many regions, thanks to a sequence of holidays immediately following September 11. The unions highlight that the demand for a five-day work week was actually agreed upon in the 12th Bipartite Settlement and 9th Joint Note back in March 2024, promising increased daily working hours in exchange for all Saturdays off, but it's still waiting for government approval. The main issue with the PLI scheme is that the government's revised plan for senior officers (Scale IV and above) differs from what the unions and the Indian Banks' Association (IBA) had agreed on, leading to concerns about fair incentives. The Department of Financial Services (DFS) has pushed banks to implement its version of PLI, even while the matter is under review by the Chief Labour Commissioner and the Delhi High Court. With around eight lakh bank employees expected to participate, the UFBU has warned of a three-day strike from September 28 to 30, and an indefinite strike starting October 26 if their demands remain unmet. This escalating standoff puts pressure on both the government and bank managements to address these issues, which also include critical pension updation and a switch option from the National Pension System (NPS) to the Old Pension Scheme (OPS) for some employees. Customers are advised to complete their essential banking tasks ahead of time to avoid inconvenience.