According to UFBU, it has been persistently pursuing its main goals, which include a negotiated PLI system and the implementation of a five-day banking week. Following the unions' notification of a strike, these matters are presently being resolved through conciliation before the Chief Labour Commissioner under the Ministry of Labour.
According to the unions, the government did not react to the call for a five-day banking week and continued to be pessimistic. Consequently, on January 27, 2026, bank workers observed a statewide protest strike. Nevertheless, talks with the government and the Indian Banks' Association (IBA) did not result in any advancement even after the strike.
According to UFBU, the Department of Financial Services (DFS) subsequently ordered banks to pay PLI for 2024–2025 to all officials and workers up to Scale III. Additionally, it directed banks to use a government-determined unilateral formula to pay PLI to Scale IV officers and higher.
The unions objected to this ruling, claiming that it went against the Joint Note and Bipartite Settlement (BPS). In the event that the updated PLI plan for Scale IV and higher officers was put into effect, UFBU declared an agitation and threatened to go on strike within a day.
The High Court is now involved in the PLI controversy. According to UFBU, the court has heard its arguments in a proper manner. The case's next hearing is set on October 6, 2026.
Additionally, the unions stated that there is currently no sign that the government or banks will put the updated PLI system into effect right now. UFBU stated during talks with the IBA that it would be open to discussing the PLI system in more detail and making any necessary adjustments.
In accordance with the current formula under the Bipartite Settlement and Joint Note, UFBU has chosen to request that the DFS and the IBA implement PLI for Scale IV officers and above for the years 2024–2025 and 2025–2026. Senior officers shouldn't be denied PLI that has already been paid to other officers and employees, according to the unions.
UFBU has decided to put its agitation programs on hold for the time being because neither the government nor the banks have taken any immediate action to implement the updated PLI scheme. It did, however, issue a warning that the unions would immediately go on strike if the updated PLI plan was attempted to be implemented. It has been requested that all union units and members pay attention.
Pension and Wage Settlement Issues Also on Agenda
UFBU said it is also pursuing several other long-pending issues, including:
- Pension updation
- Revision of Ex-gratia
- Uniform Dearness Allowance (DA) formula on pension
The unions added that the DFS has advised all banks and the IBA to begin the process for the early completion of the 13th Bipartite Settlement (BPS) and the 10th Joint Note negotiations.
Government to Form High-Power Committee
The Government has also decided to set up a High-Power Committee to take forward its agenda on banking sector reforms. UFBU said all these developments will be discussed in its upcoming meeting, which will be convened shortly.
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