Nationwide Bank Strike Disrupts Operations Demanding Five-Day Work Week

Banking operations across India were disrupted on Tuesday as the United Forum of Bank Unions (UFBU) held a strike demanding the implementation of a five-day work week. The strike involved nearly 8 lakh employees and impacted cheque clearance, cash transactions, and banking services nationwide.

Banking operations across India faced major disruptions on Tuesday as the United Forum of Bank Unions (UFBU) initiated a nationwide strike. The UFBU, an umbrella organization of nine unions representing public sector bank officers and employees, called for the strike after a meeting with the Chief Labour Commissioner failed to yield a resolution.

Over 800,000 bank employees participated in the strike, affecting cheque clearance worth Rs 4 lakh crore, cash transactions, and various banking services. Treasury operations were also suspended at multiple public sector banks, according to the All India Bank Employees Association (AIBEA).

Despite discussions in December 2023 proposing extended working hours and Saturdays off, government approval remains pending. While digital banking operations continued unaffected, public sector bank branches witnessed closures and diminished service capacities. Major private sector banks like HDFC, ICICI, and Axis Bank operated normally as their staff were not involved in the strike.