Bank Strike Today May Disrupt Public Sector Banking Services
UFBU calls nationwide strike demanding five-day workweek; customers may face third consecutive day of disruption at PSU banks
Public sector banking operations across India are likely to be disrupted on Tuesday, January 27, following a nationwide strike call by bank employee unions demanding immediate implementation of a five-day workweek. Private sector banks, however, are expected to function as usual.
The strike was announced on January 23 by the United Forum of Bank Unions (UFBU), an umbrella body representing nine major bank unions across public sector banks and some old-generation private banks. Since the UFBU largely represents public sector employees, private banks such as ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and others are not part of the strike and are likely to remain unaffected.
If the strike goes ahead as planned, customers of public sector banks could face significant inconvenience, as it would mark the third consecutive day of disrupted services. Banks were already closed on Sunday, January 25, and Monday, January 26, due to the Republic Day holiday.
The State Bank of India (SBI) has acknowledged the possibility of disruption. In a statement issued on January 23, the country’s largest lender said it has made arrangements to ensure normal functioning, but cautioned that operations could still be impacted.
“While the Bank has made necessary arrangements to ensure normal functioning in its branches and offices on the day of strike, it is likely that work in the Bank may be impacted by the strike,” SBI said.
Several public sector banks have already alerted customers about potential service disruptions if the strike materialises.
Why are bank employees striking?
The strike centres on the long-pending demand for a five-day workweek. Currently, banks remain closed on Sundays and on the second and fourth Saturdays of each month.
According to UFBU, the demand gained momentum in March 2024 during wage revision talks, when unions proposed declaring all Saturdays as bank holidays. The unions argue that institutions such as the Reserve Bank of India, LIC, GIC, stock exchanges and most government offices already follow a five-day workweek, leaving no justification for banks to operate differently.
UFBU leaders have also maintained that the move would not result in a loss of productivity, as employees have agreed to work an additional 40 minutes each day from Monday to Friday.
Despite holding meetings with the Chief Labour Commissioner earlier this week, the unions said discussions failed to yield any concrete outcome, prompting them to go ahead with the strike.
