Banks Closed Today: Banking services at public sector banks across India are set to face disruption on Tuesday as the United Forum of Bank Unions (UFBU) goes ahead with a nationwide strike to push for the immediate rollout of a five-day work week.
The UFBU, an umbrella body representing nine unions of bank officers and employees, called the strike after a conciliation meeting with the Chief Labour Commissioner on January 23 failed to produce any assurance on their demands.
With banks already shut on Sunday (January 25) and Monday (January 26) due to Republic Day, the strike is expected to affect branch-level operations for the third straight day, causing inconvenience to customers.
Explaining the decision, All India Bank Employees Association (AIBEA) general secretary C.H. Venkatachalam said that despite extensive discussions during conciliation proceedings, the unions received no concrete commitment from the authorities, leaving them with no option but to proceed with industrial action.
Key Demands Of Bank Unions
All India Bank Officers’ Confederation (AIBOC) general secretary Rupam Roy pointed out that the proposal to declare all Saturdays as bank holidays was mutually agreed upon by the Indian Banks’ Association (IBA) and the UFBU during the wage revision settlement finalised in March 2024. He added that bankers had already agreed to compensate by working an additional 40 minutes from Monday to Friday, ensuring no loss of productivity.
Echoing similar views, National Confederation of Bank Employees (NCBE) general secretary L. Chandrasekhar said the agitation was aimed at building a more sustainable and humane banking system, stressing that a balanced workload was essential for efficiency and financial stability.
As a result of the strike, services such as cash deposits and withdrawals, cheque clearances, and routine administrative work are likely to be affected at public sector banks, including State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda.
Private sector banks such as HDFC Bank, ICICI Bank, and Axis Bank are expected to function normally, as their employees are not part of the striking unions.
Digital banking platforms, including UPI and internet banking, will remain operational, though customers may face sporadic ATM cash shortages in some areas due to logistical challenges.
Banks Cautions Of Service Disruptions
Several public sector banks, including SBI, have already cautioned customers about possible service disruptions. In a regulatory filing, SBI said that while arrangements had been made to maintain normal operations, the strike could still impact services at branches and offices.
At the core of the unions’ protest is the demand for notification of a five-day work week, with all Saturdays declared holidays, a provision unions say was agreed upon under the 12th bipartite settlement with the IBA in March 2024 but is yet to be implemented.
