Five-Day Workweek Demand Hits Banking Operations, Nationwide Union Strike Disrupts Services

New Delhi: Banking operations across India were disrupted on Friday after the United Forum of Bank Unions (UFBU) launched a nationwide strike demanding immediate implementation of a five-day banking week and resolution of pending wage and pension-related issues.

The impact was largely visible at public sector banks (PSBs), where several branches remained fully or partially closed as officers and employees joined the industrial action.

Private sector banks largely continued normal operations.

Cash, Cheque Services Hit

The bank strike affected branch-level services including cash deposits, withdrawals, cheque clearing and administrative work at several PSBs and some old-generation private banks.

However, customers could continue using UPI, internet banking and other digital banking services, which remained operational.

UFBU represents seven unions accounting for around 90% of bank officers and employees.

All India Bank Employees Association General Secretary C H Venkatachalam said employees were forced to strike after discussions failed to produce a positive outcome on their demands.

SBI Warns Customers of Disruption

Several public sector lenders had informed customers about possible disruption ahead of the strike.

State Bank of India said it had made arrangements to maintain normal functioning at branches and offices but acknowledged that operations could still be affected.

Unions Seek Saturday Holidays

The central demand is to declare all Saturdays as bank holidays, effectively introducing a five-day workweek.

The proposal was reportedly agreed upon during the 12th Bipartite Settlement signed with the Indian Banks' Association in March 2024 but is awaiting government notification.

Currently, banks operate on the first, third and fifth Saturdays of every month.

Other unresolved demands include pension updation and improvement, a uniform dearness allowance formula for pensioners and an option allowing employees covered under the National Pension System (NPS) to shift to the Old Pension Scheme.

Bank unions are seeking early government action on these pending issues.