Five-Day Workweek Demand: Banks May Remain Closed Tomorrow Due To Nationwide Strike

Public sector banks across the country may face disruption on January 27 after bank employee unions announced a nationwide strike to press for the implementation of a five-day workweek. If the strike goes ahead, customers could see banking services affected on Tuesday, January 27.

The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body representing nine major bank unions, after talks with authorities failed to yield a breakthrough.

Why are bank unions going on strike?

The demand stems from a wage revision settlement signed in March 2024 between the Indian Banks’ Association (IBA) and the UFBU, under which both sides had agreed to make all Saturdays holidays. However, the decision is yet to be implemented, prompting

unions to escalate the matter.

Following the strike notice, the Chief Labour Commissioner held conciliation meetings on Wednesday and Thursday to resolve the issue. Despite these discussions, unions said there was no progress.

“Despite detailed discussions, finally there was no positive outcome out of the conciliation proceedings,” the UFBU said, adding that it has been decided to go ahead with the strike on January 27, as reported by news agency PTI.

Earlier this month, the union had also said, “It is unfortunate that the government is not responding to our genuine demand.”

Which banks may be affected?

The strike is expected to impact major government-owned lenders, including State Bank of India, Punjab National Bank, Bank of India, Bank of Baroda, and other public sector banks.

Several banks have already informed customers about possible service disruptions if the strike materialises.

Currently, bank employees get the second and fourth Saturdays off, apart from Sundays. 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 per day from Monday to Friday.

The unions have also pointed out that institutions such as the Reserve Bank of India, LIC, stock exchanges and government offices already follow a five-day workweek, questioning why banks continue with a longer schedule.

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