Banking Services Hit Across India As Unions Strike For Immediate Five-Day Workweek

Banking services, particularly at public sector banks, were disrupted across the country on Friday as employees and officers went on a nationwide strike demanding the immediate implementation of a five-day workweek and resolution of several pending wage and pension-related issues.

The strike was called by the United Forum of Bank Unions (UFBU), an umbrella body of seven unions representing around 90 per cent of bank officers and employees. Most branches of public sector banks were either completely or partially closed as staff joined the protest.

Branch-based services, including cash deposits and withdrawals, cheque clearance and administrative work, were affected in several places. Some old-generation private sector banks also faced disruption, while most private sector banks continued normal operations.

Customers could, however, continue using UPI, internet banking and other digital services, providing an alternative for routine transactions that did not require a physical branch.

The unions said the strike was forced upon them after their demand for a five-day working week failed to receive a positive response from the government.

“Since there was no positive outcome and the government did not agree to our demand, this strike was forced on us,” AIBEA general secretary C H Venkatachalam told PTI.

A key demand is the declaration of all Saturdays as holidays. The proposal was reportedly agreed upon as part of the 12th Bipartite Settlement between the Indian Banks' Association and unions in March 2024, but the required government notification is still awaited.

At present, banks remain open on the first, third and fifth Saturdays, while the second and fourth Saturdays are holidays.

The unions are also seeking improvements in pension benefits, a uniform dearness allowance formula for pensioners and an option for employees covered under the National Pension System (NPS) to shift to the Old Pension Scheme (OPS).

Public sector banks had alerted customers about possible disruption. State Bank of India said it had made arrangements for normal functioning but warned that operations could still be affected by the strike.