Public sector banks across the country may witness disruptions on January 27, after bank employee unions announced a nationwide strike demanding the implementation of a five-day workweek. If the strike goes ahead, customers are likely to face interruptions in banking services on Tuesday, January 27.
The strike has been called by the United Forum of Bank Unions (UFBU), an umbrella body representing nine major bank unions, after discussions with the authorities failed to produce a breakthrough.
The demand arises from a wage revision agreement signed in March 2024 between the Indian Banks’ Association (IBA) and the UFBU, which included a commitment to make all Saturdays bank holidays. The agreement, however, has yet to be implemented, leading unions to intensify their agitation.
After the strike notice was issued, the Chief Labour Commissioner convened conciliation meetings on Wednesday and Thursday in an effort to break the deadlock. Union representatives said the talks failed to make any headway.
“Despite detailed discussions, there was ultimately no positive outcome from the conciliation proceedings,” the UFBU said, adding that it has decided to go ahead with the strike on January 27, news agency PTI reported.
Earlier this month, the union had also said, “It is unfortunate that the government is not responding to our genuine demands.”
The strike is likely to affect major government-owned lenders such as the State Bank of India, Punjab National Bank, Bank of India, Bank of Baroda, and other public sector banks.
Several banks have already alerted customers to the possibility of service disruptions if the strike goes ahead.
At present, bank employees receive the second and fourth Saturdays off in addition to Sundays. The UFBU has maintained that a shift to a five-day workweek would not hurt productivity, noting that employees have agreed to work an additional 40 minutes each day from Monday to Friday.
The unions have also noted that institutions such as the Reserve Bank of India, LIC, stock exchanges, and government offices already operate on a five-day workweek, questioning why banks continue to follow a longer schedule.
Private sector lenders, including HDFC Bank, ICICI Bank, and Kotak Mahindra Bank, are not expected to be impacted by the strike.
Banking Disruption Looms Tomorrow: Nationwide Strike Over Five-Day Workweek Demand
