Banking operations in public sector banks across the country are likely to be disrupted on Tuesday as bank unions go on a nationwide strike to press for immediate implementation of the five-day working week.
The strike called by the United Forum of Bank Unions (UFBU), a group of nine unions representing bank officers and employees,
The United Forum of Bank Unions (UFBU), a group of nine unions representing bank officers and employees, initiated the strike after the Chief Labour Commissioner failed to provide assurances on their demands during a conciliation meeting on January 23.
With banks already closed on January 25 (Sunday) and January 26 (Republic Day), the strike on January 27 is expected to disrupt branch-level services for three consecutive days.
“Despite detailed discussions during the conciliation proceedings, no assurance was received on our demand.
Therefore, we have been forced to go ahead with the strike action,” CH Venkatachalam, general secretary of UFBU constituent All India Bank Employees Association (AIBEA), told PTI.
What services are at risk?
Public sector banks, including State Bank of India (SBI), are likely to disrupt branch-level services like cash deposits, withdrawals, cheque clearance, and administrative functions.
Punjab National Bank (PNB) and Bank of Baroda are likely to be affected. However, the operations of major private sector lenders like HDFC Bank remain unaffected.
ICICI Bank and Axis Bank are expected to remain largely unaffected, as their employees are not part of the unions participating in the strike. Digital banking services, including UPI and internet banking, will continue to function, although availability of cash at ATMs may face local issues due to logistical delays.
Why are the bank unions on strike?
The unions are demanding that all Saturdays be declared holidays, saying the proposal was agreed to during the 12th bilateral agreement signed with the Indian Banks Association (IBA) in March 2024 but has not been notified by the government yet.
All India Bank Officers Confederation (AIBOC) general secretary Rupam Roy said, “It is unfortunate that the government is not responding to our genuine demand.
There will be no loss of man-hours, as we have agreed to work 40 minutes extra daily from Monday to Friday.” At present, banks are open on the first, third, and fifth Saturdays of each month.
‘Not against customers’: Unions
Union leaders stated that the strike aims to enhance the efficiency and stability of the banking system, not to cause inconvenience to customers.
“This movement is not against customers, but for a sustainable, humane and efficient banking system. A rested banker serves the nation better.
A balanced workforce strengthens financial stability. 5-day banking is not a luxury; it is an economic and human necessity,” said L Chandrasekhar, general secretary, National Confederation of Bank Employees (NCBE).
Banks report possible disruption
Several public sector banks, including SBI, have informed the stock exchanges about the possible impact of the strike.
We advise that the bank has made necessary arrangements to ensure normal functioning of its branches and offices on the day of the strike.
but there is a possibility that the work in the bank may be affected by the strike,” SBI said in a regulatory filing on Friday.
