PSBs’ ops to be hit today as unions strike seeking five-day work week

New Delhi: Banking operations of public sector banks (PSBs) across the country are likely to be impacted on Tuesday with the United Forum of Bank Unions (UFBU) deciding to go ahead with a nationwide strike on January 27 to press for the immediate implementation of a five-day work week.

The strike call by the UFBU, an umbrella body of nine unions representing officers and employees, comes after a conciliation meeting on January 23 with the chief labour commissioner failed to yield a positive outcome.

“Despite detailed discussions during the conciliation proceedings, there was no assurance on our demand. Hence, we have been compelled to proceed with the strike action,” All India Bank Employees Association (AIBEA), a constituent of UFBU, General Secretary C H Venkatachalam said.

All India Bank Officers’ Confederation (AIBOC) General Secretary Rupam Roy said the decision to declare all Saturdays as holidays was agreed between the Indian Banks’ Association and UFBU during the wage revision settlement in March 2024.

“It is unfortunate that the government is not responding to our genuine demand. There would be no loss of man-hours as we have agreed to work an extra 40 minutes daily from Monday to Friday,” he said.

According to another UFBU constituent National Confederation of Bank Employees (NCBE) General Secretary L Chandrasekhar said, “This movement is not against customers, but for a sustainable, humane, and efficient banking system. A rested banker serves the nation better. A balanced workforce strengthens financial stability. 5-Day banking is not a luxury; it is an economic and human necessity.”

Services such as cash deposits, withdrawals, cheque clearances, and administrative work are expected to be hit at branches of PSBs, including SBI, PNB, and Bank of Baroda.

However, operations at major private sector lenders like HDFC Bank, ICICI Bank, and Axis Bank are expected to remain largely unaffected as their employees are not part of the unions that will be going on strike.

Digital banking services, including UPI and internet banking, will continue to function, though ATM cash availability could face localised issues due to logistical delays.