Bank employees stage protest in Guntur over five-day workweek, PLI

Bank employees under the banner of the United Forum of Bank Unions (UFBU) staged a protest in Guntur on Thursday, demanding the implementation of the five-day workweek and a revision to the Performance-Linked Incentive (PLI) scheme.

Despite rain, of a large number of employees participated in the protest. Andhra Pradesh State Union Bank Association general secretary S. Rajesh Khanna demanded that the five-day workweek agreement be implemented and the incentives paid based on bank performance be reviewed.

National Confederation of Bank Employees (NCBE) All India general secretary L. Chandrashekhar told The Hindu that the UFBU and the Indian Banks’ Association (IBA) had signed an agreement on March 8, 2024, covering the five-day workweek and PLI. He said that employees had agreed to work an additional 40 minutes a day to compensate for the two additional holidays each month.