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Bank unions strike nationwide demanding a five-day work week and review of the Performance-Linked Incentive scheme
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Bank unions strike nationwide demanding a five-day work week and review of the Performance-Linked Incentive scheme
Bank unions held a nationwide one-day strike demanding a five-day work week, a review of the Performance-Linked Incentive scheme, and resolution of pending pension issues.
Why it matters: general awareness
What you need to know
2 min read
Bank employees and officers across the country observed a one-day nationwide strike, disrupting operations at public sector bank branches, as unions pressed for a five-day banking work week.
The unions also raised objections to the Performance-Linked Incentive scheme applicable to bank employees and flagged pending demands relating to pensions.
Bank unions have indicated a further three-day strike later in the month if their demands are not addressed.
Sources: Topper IAS editorial (PIB / The Hindu / Indian Express)
Key facts
Remember these
- bank strike
- five-day work week
- Performance-Linked Incentive
- bank unions
Prelims · Mains
How the exam will ask it
Prelims
- bank strike, five-day work week, Performance-Linked Incentive, bank unions
Mains
Use as an example in GA answers (GS3 - Economy: banking sector labour issues, incentive schemes).
Quick recall
Answer before you reveal
With reference to the recent nationwide bank employees' strike, consider the following statements:
- Bank unions demanded a six-day work week to increase performance-linked earnings.
- Bank unions welcomed the current Performance-Linked Incentive scheme without any objections.
Which of the statements given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Show answer
Answer: D — Both statements are incorrect. Bank unions demanded a five-day work week, not a six-day week, and they raised objections to the Performance-Linked Incentive scheme rather than welcoming it, besides flagging pending pension-related demands.
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