Bank strike hits public sector banks across India

Banking services at public sector banks across India were affected on Friday as employees observed a nationwide strike called by the UFBU. The unions are demanding a five-day workweek, pension-related changes and other pending wage and service issues

New Delhi: Banking services, especially at public sector banks across the country, were impacted on Friday after the United Forum of Bank Unions (UFBU) called a nationwide strike to press for the immediate implementation of a five-day workweek and resolution of pending wage-related issues.

The strike call by the UFBU, an umbrella body of seven unions representing 90 per cent of officers and employees, did not impact the functioning of private sector banks.

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

Services such as cash deposits and withdrawals, cheque clearances and administrative work were hit at branches of most public sector banks (PSBs) and some old-generation private sector banks.

However, digital banking services, including UPI and internet banking, remained functional.

“Since there was no positive outcome and the government did not agree to our demand, this strike is forced on us. Bank employees and officers are highly aggrieved that they alone are being discriminated against,” All India Bank Employees Association (AIBEA) general secretary C H Venkatachalam, a constituent of UFBU, told PTI.

Meanwhile, most public sector banks informed their customers of the likely impact of the strike on operations.

In an advisory to customers, SBI had said, “We advise that while the bank has made all necessary arrangements to ensure normal functioning of the branches and offices on the days of strike, it is likely that work in banks may be impacted by the strike.”

The unions are demanding that all Saturdays be declared holidays, a key point that was reportedly agreed upon during the 12th Bipartite Settlement signed with the Indian Banks’ Association (IBA) in March 2024 but is awaiting government notification.

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

Other residual demands, including the updation and improvement of pensions, a uniform dearness allowance formula for all pensioners, and an option for employees covered under the National Pension System (NPS) to switch to the Old Pension Scheme (OPS), also remain unresolved.