NewsStocksBank Employees' Unions Threaten Nationwide Strike on January 27 Over Five-Day Week DemandBank Employees' Unions Threaten Nationwide Strike on January 27 Over Five-Day Week Demand
United Forum of Bank Unions announces nationwide strike on January 27, demanding five-day working week implementation for bank employees. The strike could disrupt public sector banking operations for three consecutive days, with unions proposing 40-minute daily extensions Monday-Friday to compensate. UFBU argues that RBI, LIC, GIC, and government offices already operate five-day schedules, making their demand reasonable and aligned with industry practices.
*this image is generated using AI for illustrative purposes only.
The United Forum of Bank Unions (UFBU) has announced a nationwide strike on January 27, demanding the implementation of a five-day working week for bank employees. The strike threatens to disrupt banking operations across the country, particularly affecting public sector banks for three consecutive days due to the timing with existing holidays on January 25 and 26.
Current Working Schedule and Proposed Changes
Bank employees currently receive time off on the second and fourth Saturdays of each month, in addition to Sundays. The demand centers on declaring the remaining two Saturdays as holidays, a provision that was reportedly agreed upon between the Indian Banks' Association (IBA) and UFBU during the wage revision settlement in March 2024.
| Current Schedule: | Details |
|---|---|
| Working Days: | Monday to Saturday (except 2nd & 4th Saturdays) |
| Proposed Schedule: | Monday to Friday only |
| Compensation: | Additional 40 minutes daily (Monday-Friday) |
| Holiday Agreement: | March 2024 wage revision settlement |
Union's Justification for Five-Day Week
UFBU has presented several arguments supporting their demand for a five-day working schedule. The union emphasizes that extending daily working hours by 40 minutes from Monday to Friday would ensure no loss of total working hours. In their statement, UFBU noted that several other financial institutions and government entities already operate on five-day schedules.
The union highlighted that the following organizations currently work five days per week:
- Reserve Bank of India (RBI)
- Life Insurance Corporation (LIC)
- General Insurance Corporation (GIC)
- Central and state government offices
- Foreign exchange markets
- Money markets
- Stock exchanges
Strike Impact and Social Media Campaign
The planned strike on January 27 could have significant operational implications for banking services nationwide. UFBU represents employees and officers across public sector banks and some old generation private banks through its umbrella organization of nine major bank unions in India.
| Campaign Metrics: | Numbers |
|---|---|
| Social Media Impressions: | 18,80,027 |
| Posts on X: | 2,85,200 |
| Campaign Hashtag: | #5DayBankingNow |
The union has expressed frustration with the government's response to their demands, stating in their announcement that "it is unfortunate that the government is not responding to our genuine demand." The timing of the strike, coinciding with existing holidays on January 25 and 26, would create a three-day disruption to banking services if the strike proceeds as planned.
Industry Context
The demand for a five-day working week reflects broader changes in the financial services sector, where various institutions have already adopted shortened working schedules. The union's argument centers on operational efficiency and alignment with other financial market participants who do not conduct business on Saturdays. The proposed compensation through extended daily working hours aims to address concerns about reduced productivity while improving work-life balance for banking sector employees.
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