'This Strike Is Forced On Us': Bank Services Hit As Unions Demand 5-Day Workweek

(MENAFN- Live Mint) Banking services, particularly at public sector banks across the country, were affected on Friday as the United Forum of Bank Unions (UFBU) observed a nationwide strike demanding the immediate implementation of a five-day workweek and resolution of pending wage-related issues, PTI reported.

The UFBU, an umbrella body of seven unions representing around 90 per cent of bank officers and employees, had called the strike. The action did not affect the functioning of private sector banks.

Most branches of public sector banks across the country were either completely or partially closed as employees and officers joined the strike.

Branch-level services, including cash deposits and withdrawals, cheque clearances and administrative work, were affected at most public sector banks and some old-generation private banks.

However, digital banking services such as UPI and internet banking continued to function.

"Since there was no positive outcome and the government did not agree to our demand, this strike is forced on us. Bank employees and officers are highly aggrieved that they alone are being discriminated against," All India Bank Employees Association (AIBEA) general secretary C H Venkatachalam told PTI.

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A key demand of the unions is the declaration of all Saturdays as holidays.

The demand was reportedly agreed upon during the 12th Bipartite Settlement signed with the Indian Banks' Association (IBA) in March 2024, but is still awaiting government notification.

At present, banks remain open on the first, third and fifth Saturdays of the month.

The unions have also raised other pending demands, including the updation and improvement of pension, a uniform dearness allowance formula for all pensioners and an option for employees covered under the National Pension System (NPS) to switch to the Old Pension Scheme (OPS).

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Several public sector banks had informed customers about the possible impact of the strike on branch operations.

In an advisory, State Bank of India said it had made arrangements to ensure normal functioning of branches and offices during the strike but noted that "it is likely that work in banks may be impacted by the strike".

While branch-based services were affected, digital banking channels continued to remain available to customers.

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