Nationwide strike disrupts banking services as unions demand 5-day workweek, pending wages

New Delhi: Banking services, particularly at public sector banks across India were disrupted on Friday due to the United Forum of Bank Unions’ (UFBU) nationwide strike seeking immediate implementation of a five‑day workweek and resolution of pending wages.

The UFBU represents seven unions and about 90 per cent of bank officers and employees. Most branches of state‑run banks were fully or partially closed as staff joined the protest, according to multiple reports.

Cash deposits, withdrawals, cheque clearances and administrative work were affected at several branches, while some older private banks reported disruptions. Digital banking services, including UPI and internet banking, continued to function.

Bank Employees Association leaders said the strike was forced on them because there had been no positive outcome and the government had not agreed to their demands.

Most public sector banks had alerted customers in advance about the possible impact of nationwide strike. State Bank of India said it had made arrangements for normal operations but cautioned that work could still be affected.

The unions are demanding that Saturdays should be declared holidays, a change they say was agreed in the 12th Bipartite Settlement signed with the Indian Banks’ Association in March 2024 but has not yet received government notification. Banks currently remain open on the first, third and fifth Saturdays of each month.

Other demands include improvements in pension benefits, a uniform dearness allowance formula for all pensioners and an option for employees covered under the National Pension System to shift to the Old Pension Scheme.

The Banking Union had in August said that a three-day strike from September 28 to 30 will follow the first strike in September. The protests are expected to significantly disrupt banking operations, particularly in public sector banks.

The disruption will be more pronounced towards the end of September, with bank branches already scheduled to remain closed on September 26, the fourth Saturday, and September 27, Sunday.

While bank branches will be closed on strike days, ATM and digital banking services may continue to operate depending on the bank and availability of cash and technical services. Customers have therefore been advised to plan essential branch-based transactions accordingly.

IANS