With bank employees set to go on a three-day nationwide strike from Monday, September 28, the five-day banking week remains the main demand of unions, with work-life balance also being cited as a key reason
behind the push.
The strike will continue till September 30 and comes after a one-day strike earlier this month. The unions have also announced an indefinite strike from October 26 if the issue remains unresolved.
The strike has been called by the United Forum of Bank Unions (UFBU) over the demand for a five-day banking week. The Finance Ministry has said the government has not accepted the demand, adding that the issue remains the single outstanding demand after the Performance Linked Incentive (PLI) scheme was kept in abeyance.
Vishal Sakharkar, General Secretary of the UCO Bank Officers’ Association, Maharashtra and Goa, said bank employees have been pushing for the five-day week for a long time.
“In March 2024, Bipartite Settlement was introduced, and the 5-day working demand was the priority,” Sakharkar said, adding that bank employees were willing to work 40 minutes extra each day to facilitate the proposed arrangement.
Sakharkar said employees would continue their efforts if the demand remains pending. “We are trying our best, and let’s see how much time it takes. After this, we’ll start an indefinite strike in October as an effort to achieve the same.”
The Finance Ministry has reportedly dismissed claims that it had agreed to the implementation of a five-day work week for banks, saying there was no such commitment from the ministry.
This comes after the UFBU, which claims to represent around 90 per cent of the banking workforce, said the Indian Banks’ Association (IBA) had agreed to the five-day work week as part of the 12th Bipartite Settlement/9th Joint Note signed on March 8, 2024.
Customers Likely To Feel Impact
The three-day strike comes immediately after the fourth Saturday and Sunday. The government has therefore directed all public sector banks and regional rural banks to remain open on Sunday, September 27, to reduce the impact on customers.
The Reserve Bank of India has approved the operation of bank branches, offices, ATM-linked branches and currency chests on the day.
Sakharkar said the Sunday opening would reduce the impact “a little”, but added that “three days are also enough” to affect customers.
He said senior citizens and others who depend on physical branches could face greater difficulties during the strike. “Digital marketing is a bit risky, and it can cause huge damage just because of an otp, so people, mainly senior citizens, refuse to use that and are completely dependent on banks even for withdrawing or depositing money.”
Banks have also been advising customers to complete essential transactions before the strike.
Sakharkar said bank employees have been informing customers about the strike in advance so that they can complete their work before Monday. He also said most ATMs have been stocked with sufficient cash ahead of the strike to ensure customers do not face difficulties in accessing cash during the three-day disruption.
Strike Coincides With Half-Year Closing
The September 28–30 strike also coincides with the half-year closing of banks on September 30, adding another layer of concern for branch-based banking operations. The Finance Ministry has advised that payments and other banking transactions scheduled towards the end of September be processed in advance wherever feasible to avoid delays.
The government’s decision to open banks on Sunday was aimed at preventing the strike, together with the preceding weekend holiday, from creating an extended disruption in banking services.
Will The Strike Delay Your Month-End Salary?
The three-day bank strike may affect the timing of salary credits for employees whose employers or salary accounts depend on participating banks, particularly where payroll processing involves physical branches or clearing operations.
However, employees using fully digitalised banking systems may continue to receive salaries on time, barring transaction-related delays.
Anticipating possible disruptions, the Finance Ministry’s Controller General of Accounts (CGA) has allowed central government employees to receive their salary, wages and pension on September 25 instead of the month-end. The measure does not apply to state government employees.
Unions Threaten Indefinite Strike From October 26
If the five-day banking demand remains unresolved, bank unions have proposed an indefinite nationwide strike from October 26.
Sakharkar said employees want the five-day work week to be implemented and also raised concerns over the distribution of PLI benefits.
“We are not against the PLI; we want the PLI to be distributed among employees according to their respective designations and entitlements,” he said, arguing that employees across a branch contribute equally to its functioning.
For the unions, the five-day week is also linked to work-life balance. “Everyone wants to spend family time; having a work-life balance is also important, and this should be implemented for everyone,” Sakharkar said.
