A powerful coalition of bank unions is set to paralyze India’s banking operations with a one-day strike on January 27, pressing for a long-overdue five-day work week. The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has mobilized workers nationwide in this bold move.
Timed from midnight January 26 to midnight January 27, the strike coincides with Republic Day aftermath, potentially halting ATMs, cheque clearances, and branch services at a critical juncture.
Official notices have reached the Indian Banks’ Association (IBA), labour authorities, and finance ministry, complying with legal protocols. Unions argue that full Saturday holidays would align banking with modern work norms, fostering employee welfare.
Roots trace to a 2023-2024 settlement where IBA promised to lobby the government. Yet, regulatory nod remains elusive, fueling discontent. Since 2015’s partial Saturday offs, talks have dragged, but unions offer compensatory hour extensions to ensure no productivity loss.
‘Government assurances have rung hollow for nine months,’ UFBU leaders declared, highlighting burnout in branches handling digital surges. This strike revives a decade-long campaign, signaling unions’ readiness to escalate if demands aren’t met promptly.
With public reliance on banks at an all-time high, the action underscores deeper sector reforms needed amid rising workloads and tech transitions. Resolution before strike hour could salvage services, but tensions suggest a showdown.