Excelsior Correspondent
JAMMU, Jan 22: The United Forum of Bank Unions (UFBU), an umbrella body of nine major unions representing bank employees and officers, has called for a nationwide strike on January 27 to press for the implementation of a five-day work week in the banking industry.
Addressing a press conference, Rajesh Mehta (secretary, All India Bank Officers Confederation) and other representatives said that nearly eight lakh employees and officers working in public sector banks, private banks, foreign banks, regional rural banks and cooperative banks are expected to participate in the strike. The constituent unions of UFBU include AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.
They said the core demand of the strike is the Government’s approval for declaring all Saturdays as holidays, in line with the recommendations of the Indian Banks’ Association (IBA). The proposal is based on the Memorandum of Understanding signed between IBA and UFBU on December 7, 2023, and the Settlement/Joint Note dated March 8, 2024.
Bank unions pointed out that during the 10th Bipartite Settlement and 7th Joint Note in 2015, it was agreed that the second and fourth Saturdays would be declared holidays, replacing the earlier half-day working system. At that time, assurances were given that the demand for making all Saturdays holidays would be considered subsequently.
In 2022, discussions were held between the Government, IBA and UFBU, and after negotiations, it was agreed in 2023 that daily working hours from Monday to Friday would be increased by 40 minutes, allowing all remaining Saturdays to be declared holidays. Although the proposal was recommended to the Government, approval has remained pending for nearly two years.
UFBU leaders highlighted that institutions such as RBI, LIC and GIC already follow a five-day work week, as do Central and State Government offices and stock exchanges. They maintained that with existing digital banking channels, declaring Saturdays as holidays would not inconvenience customers.
Stating that bank employees are being unfairly discriminated against, UFBU said the January 27 strike has been compelled by continued inaction on the issue.
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