Hundreds of thousands of bank employees across India are escalating their long-standing demand for a five-day working week, with a clear ultimatum to the government. The United Forum of Bank Unions (UFBU) has announced plans for a nationwide strike in the third week of January 2025 if their plea remains unaddressed.
Decades-Long Demand and Government Delay
The core of the dispute revolves around declaring all Saturdays as holidays for bank staff. The unions accuse the central government of inordinate delay in implementing a decision, despite receiving repeated assurances. The Indian Banks' Association (IBA) had formally recommended this move to the government nearly two years ago. This recommendation followed a significant memorandum of understanding signed on December 7, 2023.
Employees point out that the proposal was firmly reaffirmed in a final joint note dated March 8, 2024. However, even after a conciliatory meeting with representatives from the finance ministry in March 2025, no concrete progress has been reported, leading to growing frustration among the workforce.
Escalation Plan: From Sit-Ins to Nationwide Strike
Faced with the continued stalemate, the bank unions have charted a clear course of action to intensify pressure. The first phase of their agitation will involve organized sit-in demonstrations in all state capitals starting January 5, 2025. This will be followed by a coordinated press conference on January 13, 2025, to highlight their grievances publicly.
If these steps fail to yield a positive response from the authorities, the UFBU will proceed with its ultimate step: calling for a nationwide bank strike in the third week of January 2025. Such an action would potentially disrupt financial services, including cash withdrawals, cheque clearances, and loan processing, affecting millions of customers.
What This Means for Customers and the Banking System
The impending strike threat underscores a significant tension between bank employees' working conditions and administrative decision-making. The unions argue that a five-day week is essential for employee well-being and is already a standard in many other sectors and countries. The government and banking authorities, however, must weigh this against potential customer inconvenience and operational challenges.
With the January deadline fast approaching, all eyes are on the Centre to see if it will intervene to resolve the deadlock or if the country will witness a major banking halt. The coming weeks are critical for negotiations that could prevent widespread disruption.
