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Bank Strike in India: PSU Bank Services Affected as Unions Demand 5-Day Work Week, Pension Reforms
Banking services were affected in public sector banks due to the nationwide strike by the United Forum of Bank Unions. Employees protested over the five-day work week and other salary-related issues, causing inconvenience to customers.
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.
