Public sector bank strike today over five-day work week demand

Banking operations at public sector banks across India are expected to be disrupted on Tuesday as the United Forum of Bank Unions (UFBU) goes ahead with a nationwide strike to demand the immediate implementation of a five-day working week.

The strike follows the failure of a conciliation meeting with the chief labour commissioner on 23 January to resolve the issue. UFBU, an umbrella body representing nine unions of bank officers and employees, said it had no option but to proceed with industrial action after receiving no firm assurance from the authorities.

The timing of the strike is likely to intensify its impact. Banks were already closed on Sunday and on Monday for Republic Day, meaning customers of public sector banks face a third consecutive day of disruption at branch level.

C H Venkatachalam, general secretary of the All India Bank Employees Association, said discussions during the conciliation process had not resulted in any commitment on the unions’ key demand. “We have been compelled to go ahead with the strike,” he said.

Union leaders argue that the move to declare all Saturdays as holidays was agreed during the wage revision settlement signed with the Indian Banks’ Association in March 2024. Rupam Roy, general secretary of the All India Bank Officers’ Confederation, said the proposal would not reduce productivity, as employees had already agreed to work longer hours on weekdays.

“There would be no loss of man-hours. We have agreed to work an extra 40 minutes each day from Monday to Friday,” Roy said, adding that the government’s lack of response was “unfortunate”.

Another UFBU member, the National Confederation of Bank Employees, said the strike was aimed at creating a more sustainable and efficient banking system. “This is not a movement against customers. A balanced workforce strengthens financial stability,” said its general secretary, L Chandrasekhar.

Branch-level services such as cash deposits and withdrawals, cheque clearances and routine administrative work are expected to be affected at public sector banks, including State Bank of India, Punjab National Bank and Bank of Baroda.

Private sector banks such as HDFC Bank, ICICI Bank and Axis Bank are expected to function normally, as their employees are not part of the striking unions. Digital services, including UPI and internet banking, will continue to operate, though ATM cash availability could be disrupted in some areas due to logistical constraints.

Several public sector lenders have cautioned customers about possible disruptions. State Bank of India said in a regulatory filing that while arrangements had been made to ensure normal functioning, operations could still be affected by the strike.

At present, banks operate on the first, third and fifth Saturdays of each month. The unions are demanding that all Saturdays be declared holidays, pending formal government notification of what they say was agreed under the latest bipartite settlement.

With PTI inputs