Banking operations across India experienced widespread disruption following a nationwide walkout by public sector bank employees, with significant operational halts reported across branches and regional clearing operations in Assam.
The strike action, spearheaded by constituent unions under the United Forum of Bank Unions (UFBU), centers on three long-standing administrative and labor demands: the formal implementation of a five-day banking week, a comprehensive revision of pension formulas, and the immediate withdrawal of the Performance Linked Incentive (PLI) framework.
Union representatives highlighted that the five-day workweek proposal had previously received in-principle consensus during bipartite settlement discussions with the Indian Banks' Association (IBA), but remains pending final government notification. On retirement benefits, unions are pressing for regular pension updation aligned with wage revisions, particularly addressing disparities faced by pre-November 2002 retirees. Additionally, employee groups voiced strong opposition to the variable PLI structure, arguing that performance matrix allocations create undue operational pressure on branch staff.
In Assam, routine counter services, cash deposits, and interbank cheque clearances were substantially constrained, while digital banking and automated teller networks operated independently. Union leadership reiterated that sustained industry engagement will be necessary to resolve the pending labor grievances and finalize working-hour agreements.
