Unions demand five-day week causing service disruption Tuesday.
Bhubaneswar/New Delhi: Financial transactions at government-owned lenders are set to hit a roadblock this Tuesday. A nationwide bank strike called by the United Forum of Bank Unions (UFBU) is proceeding as planned on January 27, following a breakdown in negotiations regarding working hour reforms.
Nine major unions fall under the UFBU umbrella, representing a vast majority of officers and employees in public sector banks. Their primary demand is the immediate implementation of a five-day work week, a standard they argue is long overdue.
Three-Day Banking Halt
Customers are bracing for a difficult start to the week. Since banks were already closed on Sunday and Monday for Republic Day celebrations, the Tuesday strike means branch-level services will remain inaccessible for three consecutive days.
Talks between the unions and the Chief Labour Commissioner on January 23 failed to produce a resolution. C.H. Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), stated that the unions were forced to strike after receiving no concrete assurances during conciliation meetings.
Union Stance: Efficiency, Not Laziness
Union leaders emphasise that their demand is not about working less, but working smarter. Rupam Roy of the All India Bank Officers’ Confederation (AIBOC) clarified that employees had already agreed to increase daily working hours by 40 minutes from Monday to Friday to compensate for Saturday closures. This proposal was reportedly agreed upon with the Indian Banks’ Association (IBA) back in March 2024 but awaits government approval.
L. Chandrasekhar of the NCBE added that a rested workforce ensures better service and financial stability, calling the five-day week an "economic necessity."
Impact on Customers
Major banks, including SBI, have already notified stock exchanges that while they have made arrangements, normal operations will likely be disrupted by the strike action.
