Bank unions to go on strike on Jan 27, say govt delaying five-day work week

800,000 employees to observe one-day protest, want all Saturdays to be made bank holidays

Work at banks is likely to be disrupted on January 27 when some 800,000 employees will go on a one-day nationwide strike to demand a five-day work week, said unions on Thursday.

 

The strike will involve employees of state-owned, private, foreign, regional rural and cooperative banks. It has been called by the United Forum of Bank Unions (UFBU), an umbrella of nine bank employees’ and officers’ organizations, including All India Bank Officers’ Confederation (AIBOC).

 

In a press release, AIBOC said unions are organising the strike as the government is delaying approval for declaring all Saturdays as bank holidays. “The recommendation of the Indian Banks’ Association (IBA) for a five-day work week has been pending with the government for the past two years,” the forum said.

 

The unions said the proposal was part of the memorandum of understanding signed between UFBU and IBA on December 7, 2023, and was subsequently reaffirmed in the settlement and joint note dated March 8, 2024.

 

Under the proposal, working hours from Monday to Friday will be increased by 40 minutes more, while all Saturdays will be declared holidays.

 

Citing assurances, UFBU said that during the 10th bipartite settlement and 7th joint note in 2015, the government and IBA had agreed to declare the second and fourth Saturdays as holidays, with a commitment to consider the remaining Saturdays later. “Despite repeated assurances, the issue remains unresolved,” the forum said.

 

UFBU said that it had deferred a proposed two-day strike on March 24 and 25, 2025, following an assurance from the government that the matter was under consideration. “Even after this solemn assurance, approval has not been granted, forcing us to intensify our agitation,” the forum said.

 

The unions said a five-day work week has already been implemented at the Reserve Bank of India, Life Insurance Corporation of India and General Insurance Corporation of India. They also said central and state government offices, stock exchanges and money and foreign exchange markets function only from Monday to Friday.

 

The other eight organisations participating in the strike are All India Bank Employees Association, National Confederation of Bank Employees, All India Bank Officers’ Association, Bank Employees Federation of India, Indian National Bank Employees Federation, Indian National Bank Officers’ Congress, National Organisation of Bank Workers, and National Organisation of Bank Officers.