UFBU called a nationwide strike by banks on Friday. Public sector banks' services have been greatly impacted because of this strike. Workers are seeking the immediate implementation of the five-day work week and settlement of pending salary-related issues.

UFBU is the apex body of seven unions, which comprise 90% of the officers and employees. Most of the public sector bank branches in the country remained shut due to the strike. However, there was no impact on the functioning of private sector banks.

Bank unions have been demanding that all Saturdays be made holidays. This demand is one of the main points of the 12th bilateral agreement, signed with Indian Banks' Association (IBA) in March 2024. However, the same is still waiting for government approval. At present, banks operate on the first, third, and fifth Saturdays of the month. C.H. Venkatachalam, AIBEA General Secretary, said that the strike was imposed upon them due to the non-responsiveness of the government to their demands.

Other pending demands of employees include updating and improving pensions. They are also demanding a uniform dearness allowance formula for all pensioners. Furthermore, the demand for giving employees covered under the National Pension System (NPS) the option to switch to the Old Pension Scheme (OPS) remains unresolved. Bank employees and officers are distressed that they are being singled out for discrimination.

Services such as cash deposits, withdrawals, check clearing, and administrative work were affected. Branches of most public sector banks and some older generation private sector banks remained closed. However, digital banking services, including UPI and internet banking, remained operational. Most public sector banks had informed their customers about the potential impact of the strike. State Bank of India (SBI) also advised customers that the strike could impact bank operations.

UFBU called a nationwide strike by banks on Friday. Public sector banks' services have been greatly impacted because of this strike. Workers are seeking the immediate implementation of the five-day work week and settlement of pending salary-related issues.

UFBU is the apex body of seven unions, which comprise 90% of the officers and employees. Most of the public sector bank branches in the country remained shut due to the strike. However, there was no impact on the functioning of private sector banks.

Bank unions have been demanding that all Saturdays be made holidays. This demand is one of the main points of the 12th bilateral agreement, signed with Indian Banks' Association (IBA) in March 2024. However, the same is still waiting for government approval. At present, banks operate on the first, third, and fifth Saturdays of the month. C.H. Venkatachalam, AIBEA General Secretary, said that the strike was imposed upon them due to the non-responsiveness of the government to their demands.

Other pending demands of employees include updating and improving pensions. They are also demanding a uniform dearness allowance formula for all pensioners. Furthermore, the demand for giving employees covered under the National Pension System (NPS) the option to switch to the Old Pension Scheme (OPS) remains unresolved. Bank employees and officers are distressed that they are being singled out for discrimination.

Services such as cash deposits, withdrawals, check clearing, and administrative work were affected. Branches of most public sector banks and some older generation private sector banks remained closed. However, digital banking services, including UPI and internet banking, remained operational. Most public sector banks had informed their customers about the potential impact of the strike. State Bank of India (SBI) also advised customers that the strike could impact bank operations.