Bank Strike Today May Disrupt Public Sector Banking Services

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UFBU calls nationwide strike demanding five-day workweek; customers may face third consecutive day of disruption at PSU banks

Public sector banking operations across India are likely to be disrupted on Tuesday, January 27, following a nationwide strike call by bank employee unions demanding immediate implementation of a five-day workweek. Private sector banks, however, are expected to function as usual.

The strike was announced on January 23 by the United Forum of Bank Unions (UFBU), an umbrella body representing nine major bank unions across public sector banks and some old-generation private banks. Since the UFBU largely represents public sector employees, private banks such as ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and others are not part of the strike and are likely to remain unaffected.

Several public sector banks have already alerted customers about potential service disruptions if the strike materialises.

Why are bank employees striking?

The strike centres on the long-pending demand for a five-day workweek. Currently, banks remain closed on Sundays and on the second and fourth Saturdays of each month.

According to UFBU, the demand gained momentum in March 2024 during wage revision talks, when unions proposed declaring all Saturdays as bank holidays. The unions argue that institutions such as the Reserve Bank of India, LIC, GIC, stock exchanges and most government offices already follow a five-day workweek, leaving no justification for banks to operate differently.

UFBU leaders have also maintained that the move would not result in a loss of productivity, as employees have agreed to work an additional 40 minutes each day from Monday to Friday.

Despite holding meetings with the Chief Labour Commissioner earlier this week, the unions said discussions failed to yield any concrete outcome, prompting them to go ahead with the strike.