Kolkata: Services in PSU banks across the country were disrupted on Jan 27 as the all-India strike to press for a five-day week took its grip. United Forum
of Bank Unions, a body of nine employee associations has gone on a strike demanding immediate implementation of five-day work week. “Since there was no positive outcome and the government did not agree to our demand, hence 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), a constituent of UFBU, general secretary C H Venkatachalam told the media.
Most branches of PSU banks were closed. In some partial business took place on Tuesday. Significantly, PSU lenders like SBI communicated to the stock exchanges that services could be disrupted due to the strike. “We advise that 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 mentioned in a regulatory filing last week. Some private sector banks are functioning since their employees are not under unions.
Banks already closed for 3 days
The banks will be closed following the call given by the United Forum of Bank Unions, which is a joint platform of nine unions of bank officers and employees. The strike is nationwide and will impact the most all institutions with a high share of unionised staff. On Jan 23, a meeting held with the chief labour commissioner and the UFBU representatives. But no concrete assurance was given leading to breakown of the discussions. C H Venkatachalam, general secretary of All India Bank Employees Association, said that despite the talks, no agreement could be reached on the demands. Therefore, there was no option but to strike work on Jan 27.
No notification
Rupam Roy, general secretary of All India Bank Officers Confederation, said that during the wage agreement in March 2024, it was decided between the Indian Banks Association (IBA) and the unions to keep all Saturdays as holidays. However, the government it yet to issue a notification to that effect. The unions point out that the five-day week is not going to reduce working hours. Employees are willing to work the extra time from Monday to Friday to keep the same time of work week in tact. L Chandrasekhar, general secretary of NCBE said their movement is not against customers, but for a balanced and humane banking system.
The UFBU office bearers have also pointed out that RBI, LIC, GIC, Central and state government offices all follow the five-day week.
Impact be felt in these areas
Due to the strike, cash deposits and withdrawals, check clearing, branch-level operations and administrative services in all public sector banks will be affected. The private banks such as HDFC Bank, ICICI Bank, Kotak Bank and Axis Bank will not be affected since their employees are not part of these unions. Digital banking services such as UPI, internet banking, and mobile banking will continue to function normally, but the availability of cash in ATMs may be affected in some areas.
