Banking services disrupted across nation as unions announce week-long strike

PTC News Desk: Banking services were disrupted in several parts of the country on Friday as the United Forum of Bank Unions (UFBU) observed a nationwide strike demanding the immediate introduction of a five-day workweek.

Operations such as cash deposits and withdrawals, cheque clearing and administrative work were affected at many bank branches. With officers and employees participating in the strike, several public sector bank branches remained completely or partially closed.

The UFBU, an umbrella organisation of nine bank employees’ and officers’ unions, said around eight lakh workers from public sector banks took part in the strike.

All public sector banks and some old-generation private banks reported disruptions. However, major private lenders such as HDFC Bank, ICICI Bank and Axis Bank were largely unaffected as their employees are not members of the striking unions.

Digital banking services, including internet banking and UPI, continued to operate normally.

Unions seek Saturday holidays

The strike came after a conciliation meeting with the Chief Labour Commissioner on January 23 failed to resolve the issue.

Rupam Roy, general secretary of the All India Bank Officers' Confederation (AIBOC), said a decision was taken in December 2023 to extend daily working hours from Monday to Friday by 40 minutes so that all Saturdays could be declared holidays.

According to Roy, the proposal was submitted to the authorities but has been awaiting approval for nearly two years.

The unions are demanding that banks remain closed on every Saturday. The demand was reportedly included in the 12th Bipartite Settlement signed between the Indian Banks' Association (IBA) and bank unions in March 2024. However, the decision has not yet been officially notified.

At present, banks are closed on the second and fourth Saturdays, while they remain open on the first, third and fifth Saturdays of the month.