‘This strike is being forced on us’: Banking services strike as unions demand 5-day week | Today’s news

Banking services, especially in public sector banks across the country, were affected on Friday as the United Forum of Banking Unions (UFBU) observed a nationwide strike demanding immediate implementation of a five-day work week and resolution of outstanding wage issues, PTI reported.

The strike was called by the UFBU, the umbrella body of seven unions representing around 90 percent of bank officials and employees. The action did not affect the functioning of private sector banks.

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

Branch-level services, including cash deposits and withdrawals, check clearance and clerical work, were affected in 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 has been no positive outcome and the government has not agreed to our demand, this strike is being forced upon us. The employees and officers of the bank are very saddened that only they are being discriminated against,” All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam told PTI.

What do the banking unions demand?

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

The demand was reportedly agreed during the 12th bipartite settlement signed with the Indian Banks Association (IBA) in March 2024, but is still awaiting a government announcement.

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

The unions also raised other pending demands, including updating and improving pension, uniform formula for all pensioners and option for employees covered by the National Pension Scheme (NPS) to migrate to the Old Pension Scheme (OPS).

Banks warn customers against breach

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

In a statement, State Bank of India said it had taken measures to ensure normal functioning of branches and offices during the strike, but noted that “it is likely that the strike may affect work in the banks”.

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