Banking operations in public sector banks are likely to be affected today as the United Forum of Bank Unions (UFBU) has called for a nationwide strike on January 27, demanding the immediate implementation of a five-day work week. The strike call by UFBU, a joint body of nine organizations representing officers and employees, comes after the failure of a conciliation meeting with the Chief Labour Commissioner on January 23. Since banks were closed on January 25 (Sunday) and January 26 (Republic Day), the strike on Tuesday will result in a three-day disruption of branch-level services.
What are the organizations saying?
C.H. Venkatachalam, General Secretary of the All India Bank Employees' Association (AIBEA), a constituent of UFBU, said that despite detailed discussions during the conciliation proceedings, no assurance was given regarding their demand. Therefore, they are forced to go on strike. Rupam Roy, General Secretary of the All India Bank Officers' Confederation (AIBOC), said that during the wage revision agreement in March 2024, the Indian Banks' Association (IBA) and UFBU had agreed to declare all Saturdays as holidays.
He added that it is unfortunate that the government is not responding to their legitimate demand. This will not result in any loss of working hours as they have agreed to work an additional 40 minutes daily from Monday to Friday. L. Chandrasekhar, General Secretary of the National Confederation of Bank Employees (NCBE), another constituent of UFBU, said that this movement is not against the customers, but for a sustainable and humane banking system. A five-day banking week is not a luxury, but an economic and humanitarian necessity.
Private banks will not be affected.
Branches of public sector banks, including State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda, are likely to see disruptions in cash deposits, withdrawals, cheque clearing, and administrative work. However, major private sector lenders such as HDFC Bank, ICICI Bank, and Axis Bank are expected to remain largely unaffected, as their employees are not part of the unions that are going on strike.
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