India’s major bank employee and officer unions have served a strike notice announcing a nationwide work stoppage on Jan. 27, intensifying their long-running demand for the introduction of a five-day work week in the banking sector.
The strike notice has been issued by the United Forum of Bank Unions (UFBU), an umbrella body representing nine bank unions, under the provisions of the Industrial Disputes Act, 1947. The proposed strike will run from midnight of Jan. 26 to midnight of Jan. 27.
In the notice addressed to the Indian Banks’ Association, the Chief Labour Commissioner, and the Department of Financial Services (DFS), the unions said the strike is aimed at pressing for government approval to implement a five-day work week by declaring all Saturdays as bank holidays.
The unions pointed out that the IBA has already recommended the move to the government based on a memorandum of understanding signed between the IBA and UFBU on Dec. 7, 2023, and the subsequent settlement and joint note dated March 8, 2024. However, the proposal is yet to receive final clearance from the government and regulators.
Long-Standing Issue
According to the unions, the demand for a five-day work week dates back to 2015, when only the second and fourth Saturdays were declared holidays. They said repeated rounds of discussions with the IBA over the years have resulted in broad agreements, including a willingness by unions to extend daily working hours by around 40 minutes to ensure there is no reduction in total weekly working hours.
Despite these understandings and assurances given during conciliation meetings, the unions said there has been no tangible progress for over nine months, leading to renewed agitation.
Agitation Schedule Ahead of Strike
UFBU has outlined a phased agitation programme in the run-up to the strike, including member mobilisation meetings, social media campaigns, badge-wearing protests and press conferences at state headquarters. A nationwide rally is also planned ahead of the Jan. 27 walkout.
The unions have argued that employees in other financial institutions, including the Reserve Bank of India, LIC and GIC, already follow a five-day work week, as do central and state government offices and stock exchanges. They have said bank employees face high workloads and stress due to staff shortages, making the demand both reasonable and justified.
The strike is expected to impact banking operations across the country if talks fail to yield a breakthrough before Jan. 27.
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