New Delhi, 11 September (H.S.): Banking services were disrupted across the country on Friday as employees of public sector banks went on a nationwide strike. The employees staged protests demanding a five-day workweek and resolution of various wage-related issues, causing inconvenience to customers. However, operations of private sector banks remained unaffected by the strike.

The one-day strike called by the United Forum of Bank Unions (UFBU) did not affect the functioning of private sector banks. Digital banking services, including UPI and internet banking, continued to operate normally. Government-owned banks, including State Bank of India, Punjab National Bank and Union Bank, as well as some private sector banks, will remain closed for three consecutive days from Friday.

The UFBU called the nationwide strike demanding the immediate implementation of a five-day workweek and resolution of wage-related issues that have reportedly remained pending for the past two years. Meanwhile, most public sector banks had informed their customers about the possible impact of the strike on banking operations.

Most branches of public sector banks across the country remained completely or partially closed as a large number of employees and officers participated in the strike. Services such as cash deposits and withdrawals, cheque clearing and administrative work were affected at branches of most public sector banks (PSBs) and some old-generation private sector banks.

In an advisory issued to customers, SBI said it had made all necessary arrangements to ensure normal functioning of its branches and offices during the strike days. However, it cautioned that banking operations could still be affected due to the strike.

Bank unions are demanding that all Saturdays be declared holidays. This is one of their key demands and was reportedly agreed upon with the Indian Banks’ Association (IBA) under the 12th Bipartite Settlement reached in March 2024. However, the government has yet to issue a notification in this regard. At present, banks remain open on the first, third and fifth Saturdays of every month.

Several other pending demands also remain unresolved, including revision and improvement of pensions, implementation of a uniform formula for dearness allowance for all pensioners, and providing employees covered under the National Pension System (NPS) an option to shift to the Old Pension Scheme (OPS).

The nationwide strike over the implementation of a five-day workweek and other pending demands brought banking operations to a standstill at around 7,000 branches across Madhya Pradesh, affecting daily business estimated at nearly Rs 5,500 crore.

Hindusthan Samachar / Jun Sarkar