Bank Strike: Employee Unions Demand Five-Day Work Week, Declare Nationwide Strike On Jan. 27
Bank Strike: Public sector banking services are likely to experience disruptions for three straight days if banks go ahead with their strike call.
Bank unions affiliated to the United Forum of Bank Unions (UFBU) have declared a nationwide strike on Jan. 27, reiterating their long-standing call for a five-day workweek.
In a circular dated Jan. 4, the All India Bank Officers’ Confederation (AIBOC) and United Forum of Bank Unions (UFBU) said the strike has been called after the government failed to respond to a demand agreed upon during the March 2024 wage revision settlement with the Indian Banks’ Association.
The decision to designate the second and fourth Saturdays as holidays was part of that settlement.
"It is unfortunate that the government is not responding to our genuine demand. There would be no loss of man hours because we have agreed to an extra 40 minutes working per day from Monday to Friday," UFBU said in a statement.
It highlighted that the Reserve Bank of India (RBI), Life Insurance Corporation (LIC), General Insurance Corporation of India (GIC) and similar institutions have already adopted a five-day working week, while foreign exchange markets, money markets, and stock exchanges, as well as government offices, do not operate on Saturdays. Banks will remain open on Jan. 27, but staff protests could lead to delays or disruptions in certain services.
Branches, cheque processing, cash transactions, and customer support could be impacted, while online platforms and ATMs are expected to function with minimal impact.
The UFBU serves as an umbrella body for nine prominent bank unions in India, representing staff and officers across public sector banks and select older private banks.
