UFBU strike could disrupt public sector bank services across India
Heads up: daily banking services at most public sector lenders across India could be impacted for at least four days starting September 11 if the United Forum of Bank Unions (UFBU) calls for a nationwide strike.
The unions want a five-day workweek, fairer dearness allowance calculations, better pensions, and changes to how performance incentives are given.
UFBU demands PLI parity, NPS option
UFBU is pushing back against a government incentive plan that mainly benefits senior officers, saying it breaks a previous agreement under which PLI would be uniform for employees and officers up to Scale VII.
They're also asking for updates to the pension system and for National Pension System employees to have the option to switch back to the old pension scheme.
If their demands aren't met, they're planning even bigger strikes later in September and October.