Bank Unions Announce Nationwide Strike on January 27 Over Five-Day Work Week Demand

Bank employees’ unions have announced a nationwide strike on January 27 to press for their long-pending demand for a five-day work week.

If the strike goes ahead, public sector banking services are likely to be disrupted for three consecutive days, as January 25 and 26 are already bank holidays.

Reason for the Strike

The demand stems from an agreement reached between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) during the wage revision settlement in March 2024, according to PTI.

Under the agreement, both sides had agreed to make all Saturdays holidays. However, the decision has yet to be implemented.

Most public sector banks have warned customers of possible service disruptions if the strike proceeds.

After the UFBU served a strike notice, the Chief Labour Commissioner held conciliation meetings on Wednesday and Thursday to resolve the dispute. The unions said the talks did not produce any positive outcome.

“Despite detailed discussions, there was no positive outcome from the conciliation proceedings,” the UFBU said.

Banks Likely to Be Affected

Banks expected to be impacted include State Bank of India, Punjab National Bank, Bank of India, Bank of Baroda and other government-owned lenders.

Currently, bank employees get the second and fourth Saturdays off each month, along with Sundays. As a result, most weeks remain six-day working weeks.

The UFBU has argued that moving to a five-day schedule would not reduce productivity, as employees have agreed to work an additional 40 minutes each day from Monday to Friday.

“It is unfortunate that the government is not responding to our genuine demand,” the UFBU said earlier this month.

The unions have also noted that institutions such as the Reserve Bank of India, LIC, stock exchanges and government offices already follow a five-day work week, questioning why banks continue with a six-day system.

Private Banks Unlikely to Be Affected

The UFBU represents nine major bank unions across public sector banks and some old-generation private lenders.

Branches of large private sector banks such as HDFC Bank, ICICI Bank and Kotak Mahindra Bank are not expected to be affected by the strike.