Cash Crunch vs. Burnout: Nationwide Bank Strike Shuts Branches for 5-Day Week Decree

Operations at major lenders like State Bank of India, Punjab National Bank, and Bank of Baroda are expected to be hit, specifically affecting cash deposits, withdrawals, and cheque clearances. File Photo.

Public sector bank employees have launched a nationwide strike on Tuesday, causing significant disruptions to banking operations across India. The strike was called by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions, after conciliation meetings with the Chief Labour Commissioner on January 22 and 23 failed to yield results.

According to C H Venkatachalam, general secretary of the All India Bank Employees Association (AIBEA), unions were compelled to proceed after receiving no assurances on their demands. The strike follows a four-day holiday stretch including Republic Day, marking the fifth consecutive day of disrupted branch services. Operations at major lenders like State Bank of India, Punjab National Bank, and Bank of Baroda are expected to be hit, specifically affecting cash deposits, withdrawals, and cheque clearances.

The primary demand is the official notification of a five-day workweek. Rupam Roy, general secretary of the All India Bank Officers' Confederation (AIBOC), said that unions have already agreed to work an extra 40 minutes daily to ensure no loss of man-hours.

While digital services like UPI and internet banking remain functional, private sector banks such as HDFC and ICICI are operating normally.

L Chandrasekhar, general secretary of the National Confederation of Bank Employees, emphasised that the movement is for a "sustainable and efficient banking system" rather than to inconvenience customers.

Source: Times of India