/images/ppid_59c68470-image-178895516665193735.webp)
/images/ppid_59c68470-image-178891006195027030.webp)
/images/ppid_59c68470-image-178893752656920849.webp)
What is the story about?
Union Bank of India on Wednesday, September 9, said operations at its branches and administrative offices across the country could be affected as several bank employee and officer unions have announced multiple rounds of strikes starting September 11.
In an exchange filing, the lender said it had been advised by the Indian Banks’ Association (IBA) that the unions had served strike notices over various issues.
The first strike is scheduled for September 11 and will be a one-day nationwide strike. This will be followed by a three-day strike from September 28 to September 30, while the unions have also announced an indefinite strike from October 26 onwards.
Union Bank said it is taking all necessary steps under existing guidelines to deal with the proposed strikes and ensure the smooth functioning of its operations.
However, the lender cautioned that the functioning of its branches and administrative offices across India may be affected if the strikes materialise. The bank also said that, as of now, it is unable to quantify the impact of the proposed strike action.
Three rounds of strikes announced
The United Forum of Bank Unions (UFBU) and the All-India Bank Officers Association (AIBOA) will participate in the one-day strike on September 11.
The three-day strike from September 28-30 will see participation from UFBU, AIBOA, All India Bank Adhikari Sena Mahasangh (AIBASM) and Bank Karmchari Sena Mahasangh (BKSM).
For the indefinite strike beginning October 26, the participating unions are UFBU, AIBASM and BKSM.
What are the bank unions demanding?
The strikes have been called over several issues, including the implementation of a five-day banking week and opposition to the government's revised performance-linked incentive (PLI) framework.
The UFBU has said the IBA had agreed to introduce a five-day work week under the 12th Bipartite Settlement and 9th Joint Note, signed in March 2024. The proposal is still awaiting government approval.
The unions have also opposed the revised PLI framework, alleging that it creates a significant disparity in incentives between employees and senior officers.
According to the unions, most employees would be eligible for a maximum incentive equivalent to 15 days of basic pay and dearness allowance, while officers in Scale IV and above could receive incentives of up to 365 days of basic pay, based on individual performance.
SBI also flags possible impact
Separately, State Bank of India (SBI) has also cautioned that operations at its branches and offices may be affected by the proposed strikes.
SBI said it has made necessary arrangements to ensure the normal functioning of its branches and offices on the proposed strike dates, while noting that operations could still be impacted by the strike action. The lender also said it is currently unable to quantify the impact.
Also Read: Axis Bank may split staff across Mumbai as it rebuilds headquarters tower
In an exchange filing, the lender said it had been advised by the Indian Banks’ Association (IBA) that the unions had served strike notices over various issues.
The first strike is scheduled for September 11 and will be a one-day nationwide strike. This will be followed by a three-day strike from September 28 to September 30, while the unions have also announced an indefinite strike from October 26 onwards.
Union Bank said it is taking all necessary steps under existing guidelines to deal with the proposed strikes and ensure the smooth functioning of its operations.
However, the lender cautioned that the functioning of its branches and administrative offices across India may be affected if the strikes materialise. The bank also said that, as of now, it is unable to quantify the impact of the proposed strike action.
Three rounds of strikes announced
The United Forum of Bank Unions (UFBU) and the All-India Bank Officers Association (AIBOA) will participate in the one-day strike on September 11.
The three-day strike from September 28-30 will see participation from UFBU, AIBOA, All India Bank Adhikari Sena Mahasangh (AIBASM) and Bank Karmchari Sena Mahasangh (BKSM).
For the indefinite strike beginning October 26, the participating unions are UFBU, AIBASM and BKSM.
What are the bank unions demanding?
The strikes have been called over several issues, including the implementation of a five-day banking week and opposition to the government's revised performance-linked incentive (PLI) framework.
The UFBU has said the IBA had agreed to introduce a five-day work week under the 12th Bipartite Settlement and 9th Joint Note, signed in March 2024. The proposal is still awaiting government approval.
The unions have also opposed the revised PLI framework, alleging that it creates a significant disparity in incentives between employees and senior officers.
According to the unions, most employees would be eligible for a maximum incentive equivalent to 15 days of basic pay and dearness allowance, while officers in Scale IV and above could receive incentives of up to 365 days of basic pay, based on individual performance.
SBI also flags possible impact
Separately, State Bank of India (SBI) has also cautioned that operations at its branches and offices may be affected by the proposed strikes.
SBI said it has made necessary arrangements to ensure the normal functioning of its branches and offices on the proposed strike dates, while noting that operations could still be impacted by the strike action. The lender also said it is currently unable to quantify the impact.
Also Read: Axis Bank may split staff across Mumbai as it rebuilds headquarters tower
/images/ppid_59c68470-image-178903002439229300.webp)
/images/ppid_59c68470-image-178897504713832203.webp)
/images/ppid_59c68470-image-178901755503955550.webp)
