India Bank Strike Disrupts Services Over Five-Day Week

Public sector bank employees across India observed a nationwide strike on Tuesday, January 27, disrupting operations at branches as unions demanded the immediate implementation of a five-day workweek. The action, called by the United Forum of Bank Unions (UFBU), an umbrella body representing nine major unions of officers and employees, affected public sector banks and some older private lenders, leaving customers facing a third straight day without full branch services after the weekend and Republic Day holiday on January 26.

The strike stemmed from a long-standing agreement reached during wage revision talks in March 2024 between the UFBU and the Indian Banks Association (IBA). Under the 12th Bipartite Settlement, unions proposed declaring all Saturdays as holidays, extending closures beyond the current Sundays and second and fourth Saturdays. To offset any productivity concerns, employees agreed to work an additional 40 minutes each weekday. However, the change requires government notification, which has not been issued despite the accord. Unions highlighted that institutions like the Reserve Bank of India, Life Insurance Corporation, General Insurance Corporation, stock...