'This strike is forced on us': Bank services hit as unions demand 5-day workweek
Banking services at public sector banks were hit on Friday as the UFBU observed a nationwide strike demanding a five-day workweek and resolution of pending issues. Branch services were affected, while UPI and internet banking remained functional.
New Delhi witnessed disruptions in banking operations on Friday as the United Forum of Bank Unions (UFBU) initiated a nationwide strike demanding the implementation of a five-day banking week and resolution of wage and pension-related grievances. The majority of the impact was observed at public sector banks (PSBs), with numerous branches either fully or partially closed as staff members participated in the industrial action.
Private sector banks largely maintained their regular operations. The strike affected various branch-level services like cash deposits, withdrawals, cheque clearing, and administrative duties at several PSBs and some older private banks. However, customers could still utilize UPI, internet banking, and other digital banking services unaffected by the disruption.
UFBU represents seven unions, which account for approximately 90% of bank officers and employees. After discussions failed to yield a favorable resolution, the employees resorted to striking. C H Venkatachalam, the General Secretary of the All India Bank Employees Association, revealed that the employees felt compelled to strike due to the inability of negotiations to achieve their demands.
State Bank of India (SBI) alerted its customers about potential disruptions prior to the strike and confirmed that while efforts were made to ensure normal functioning at branches and offices, operations could still be adversely affected.
One of the central demands of the striking unions is to declare all Saturdays as bank holidays, thereby instituting a five-day workweek. This proposal was reportedly incorporated into the 12th Bipartite Settlement signed with the Indian Banks Association in March 2024, but awaits government notification for its enforcement. The strike, which commenced on September 11, covers issues related to the five-day banking week, PLI (Production Linked Incentive) payouts, and pension-related concerns.
Other unresolved demands include the timely updation and enhancement of pension schemes, a standardized dearness allowance formula for pensioners, and the flexibility for employees under the National Pension System (NPS) to transition to the Old Pension Scheme. Bank unions are urging the government to act promptly on these pending matters to resolve the ongoing strike.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
