New Delhi: Operations have been affected at nearly all public sector banks across the country on Tuesday after bank employee unions called for a nationwide strike, pressing for immediate implementation of their long-standing demand for a five-day workweek.
Most private sector banks are operating normally.
The strike was announced on January 23, by the United Forum of Bank Unions (UFBU), an umbrella organisation comprising nine major bank unions in India, representing employees and officers across public sector banks and some old generation private banks.
With the strike being successful, customers of the affected banks are not being able to avail services for the fourth consecutive day. While January 24 was a fourth Saturday, the next day was a Sunday. Monday was a public holiday for Republic Day.
This has left many wondering whether the selection of the date by UFBU was an effort to grant a long extended weekend to employees, while inconveniencing customers.
The State Bank of India had announced on January 23 that while it would try to ensure normal functioning in its branches and offices on January 27, there is a possibility of operations being hampered.
“In this connection, we advise that while the Bank has made necessary arrangements to ensure normal functioning in its branches and offices on the day of strike, it is likely that work in the Bank may be impacted by the Strike,” an official statement from SBI read.
Most public sector banks have already informed their customers about disruptions to banking services if the strike materialises, Hindustan Times reported.
UFBU, held meetings with the chief labour commissioner on Wednesday and Thursday. In a statement issued after that, the union said that it was going ahead with the strike as the meetings bore no results.
The idea of a five-day workweek emerged in March 2024, during a wage revision settlement, when UFBU decided to declare all Saturdays as bank holidays.
The forum pointed to how the RBI, LIC, GIC, stock exchanges, and government offices already follow a five-day workweek, and that there was no justification for banks to function otherwise.
It was unfortunate that the government did not respond to its ‘genuine demand’, the forum said.
“There would be no loss of man-hours as we have agreed to work an extra 40 minutes daily from Monday to Friday,” UFBU had said earlier this month.
