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Nationwide Bank Strike Disrupts Services as Employees Demand Five-Day Workweek

A nationwide strike led by the United Forum of Bank Unions has disrupted banking services across India, particularly in public sector banks. Employees are demanding the implementation of a five-day workweek and resolution of pending wage issues. While many branches are closed, digital banking services continue to operate. The unions have warned of further strikes later in the month, which could exacerbate the situation. Customers are advised to plan their transactions accordingly as disruptions are expected to continue.
 

Banking Services Disrupted Amid Nationwide Strike

Screengrab image shows bank employees and union members protesting to demand five-day workweek amid ongoing bank strike row(Source: X)


New Delhi, Sep 11: Banking operations, especially in public sector banks across India, faced significant disruptions on Friday due to a nationwide strike organized by the United Forum of Bank Unions (UFBU). The strike aims to push for the immediate establishment of a five-day workweek and address unresolved wage issues.


The UFBU, which encompasses seven unions representing around 90% of bank employees and officers, saw many branches of state-run banks either fully or partially closed as staff participated in the protest, according to various reports.


Services such as cash deposits, withdrawals, cheque clearances, and administrative tasks were impacted at numerous branches, with some private banks also experiencing disruptions. However, digital banking services, including UPI and internet banking, remained operational.


Leaders from the Bank Employees Association stated that the strike was a necessary action due to the lack of positive responses from the government regarding their demands.


Most public sector banks had informed customers ahead of time about the potential disruptions caused by the nationwide strike. The State Bank of India mentioned that it had made arrangements to maintain normal operations but warned that services could still be affected.


The unions are advocating for Saturdays to be recognized as holidays, a change they claim was agreed upon in the 12th Bipartite Settlement with the Indian Banks’ Association in March 2024, but has yet to receive government notification. Currently, banks operate on the first, third, and fifth Saturdays of each month.


Additional demands include enhancements in pension benefits, a standardized dearness allowance formula for all pensioners, and an option for employees under the National Pension System to transition to the Old Pension Scheme.


In August, the Banking Union announced a planned three-day strike from September 28 to 30, which will follow the initial strike in September. These protests are anticipated to cause significant disruptions in banking services, particularly within public sector banks.


The impact of the disruptions is expected to be more severe towards the end of September, as bank branches are already scheduled to be closed on September 26, the fourth Saturday, and September 27, Sunday.


While branches will be closed during the strike days, ATM and digital banking services may still function depending on the bank's cash availability and technical services. Customers are therefore encouraged to plan their essential transactions accordingly.