New Delhi. On the call of United Forum of Bank Unions (UFBU), a nationwide bank strike has been called on Friday. The services of public sector banks have been badly affected by this strike. The workers are demanding immediate implementation of a five-day work week and resolution of pending wage issues.
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UFBU is an apex body of seven unions. This represents 90 percent of the number of officers and employees. Due to the strike, most of the branches of public sector banks remained completely or partially closed across the country. However, this had no impact on the functioning of private sector banks.
Why was the strike called?
Bank associations have demanded that all Saturdays be declared holidays. This is a key point that was reportedly agreed upon in the 12th bilateral agreement with the Indian Banks Association (IBA) in March 2024. However, it is still awaiting government notification. At present banks are open on the first, third and fifth Saturday of the month. CH Venkatachalam, general secretary of All India Bank Employees Association (AIBEA), said that this strike has been imposed on them due to the government not getting positive results on their demands.
What are the other major demands of bank employees?
Other pending demands of the employees include update and reform of pension. They are also demanding a uniform dearness allowance formula for all pensioners. Apart from this, the demand of giving the option of converting the employees covered under National Pension System (NPS) to Old Pension Scheme (OPS) is also unresolved. Bank employees and officers are distressed that they alone are being discriminated against.
What was the impact on customers?
Services like cash deposits, withdrawals, check clearing and administrative functions were affected. Branches of most public sector banks and some old generation private sector banks remained closed. However, digital banking services including UPI and internet banking remained operational. Most public sector banks had informed their customers about the possible impact of the strike. State Bank of India (SBI) had also advised customers that the strike may impact the functioning of the bank.