After the holiday of 26th January, if you have any important work related to the bank today, then you should know this important news before leaving home for the branch. Bank related work may get stuck on Tuesday. Actually, there is a strike in public sector banks (government banks) across the country on 27 January. United Forum of Bank Unions i.e. UFBU has announced to go on a nationwide strike demanding immediate implementation of the five-day working week.
No concrete assurance from the government
According to the news, UFBU, the joint platform of 9 bank unions, took this decision after no positive result was found in the conciliation meeting held with the Chief Labor Commissioner on January 23. The unions say that no concrete assurance was received from the government on their demands. C. H. Venkatachalam, General Secretary of All India Bank Employees Association (AIBEA) said that detailed discussions were held during the conciliation process, but no clear assurance was received on our demands. For this reason we had to adopt the path of strike. During the wage revision held in March 2024, an agreement was reached between the Indian Banks Association i.e. IBA and UFBU to declare all Saturdays as holidays.
There will be no loss of working hours
The union says that the government is still not taking any action on our legitimate demands. There will be no loss of working hours from the five-day work week, as we have agreed to work an extra 40 minutes a day, Monday to Friday. National Confederation of Bank Employees (NCBE) general secretary L. Chandrashekhar clarified that this movement is not against the customers. He said that a balanced and relaxed bank employee can serve the country better. Five-day banking is not a convenience, but an economic and human necessity.
Services will remain normal in private banks
Due to the strike, cash transactions, check clearance and administrative work are likely to be affected in government banks. At the same time, services in private banks are expected to remain normal because their employees are not involved in this strike. Digital banking services such as UPI and internet banking will continue to operate smoothly, however, availability of cash at ATMs may be affected due to logistics reasons in some areas.
Gave information to stock markets
Banks have informed the stock markets about the possible impact of the strike. SBI said in a regulatory filing that while the bank has made necessary arrangements to ensure normal operations on the day of the strike, the possibility of disruption in operations cannot be ruled out. At present, banks are open on the first, third and fifth Saturday of the month. The unions are demanding declaration of holiday on all Saturdays.
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