JAMMU, Aug 27: Bank employees and officers today staged a massive demonstration at Bahu Plaza as part of the nationwide protest call given by the United Forum of Bank Unions (UFBU) over various issues concerning the banking workforce.
The UFBU, comprising AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC, served a strike notice on August 26, raising strong objections to the delay in implementing five-day banking and the unilateral and discriminatory Performance Linked Incentive (PLI) scheme introduced by the Department of Financial Services (DFS).
The unions demanded immediate implementation of five-day banking in accordance with the commitment recorded in the Settlement/Joint Note dated March 8, 2024. Despite the agreement and subsequent assurances, the matter remains pending for want of Government approval.
The UFBU also strongly opposed the revised PLI scheme, alleging that it selectively benefits less than five per cent of the banking workforce while excluding more than 95 per cent of employees who collectively contribute to the functioning and growth of banks.
The unions objected to replacing the mutually agreed bank-performance-based PLI with an individual-performance-based system. They demanded that the DFS-directed scheme be kept in abeyance and suitably modified through bilateral discussions with the unions.
The UFBU further pointed out that the existing bilateral PLI scheme provides for a maximum incentive equivalent to 15 days’ Basic Pay plus DA, whereas the DFS-directed scheme provides for PLI of up to 365 days’ Basic Pay, which, according to the unions, creates a discriminatory disparity among employees.
The Forum appealed to the Government of India and the Indian Banks’ Association to resolve the issues through meaningful bilateral dialogue and honour the commitments already made. It reiterated that the struggle is aimed at safeguarding fairness, collective bargaining, industrial harmony and the legitimate interests of the entire banking workforce.
The Jammu demonstration was attended by Rakesh of PNB, Puneet of Canara Bank and Naresh of Bank of Baroda, besides a large number of bank employees and officers from various banks.
The gathering unanimously called upon the Government of India to clear all pending issues and accord immediate approval for declaring all Saturdays as holidays in the banking industry, thereby paving the way for implementation of the five-day banking week without further delay.