Jammu, Jan 27:
Banking services across India came to a near-standstill today as the United Forum of Bank Unions (UFBU) executed a massive nationwide strike. The agitation, which saw overwhelming participation from public sector, regional rural, and several private sector bank employees, centers on the long-pending demand for a 5-day work week.
In Jammu and Kashmir, the strike’s impact was palpable, with major branches of public sector banks remaining locked for the fourth consecutive day following the weekend and Republic Day holidays.
The Core Conflict: A Promise Delayed
According to UFBU leaders in Jammu, the demand for all Saturdays as holidays is not new. While the Indian Banks’ Association (IBA) agreed to the proposal in principle during the 12th Bipartite Settlement in March 2024, the final Government of India notification remains stuck in bureaucratic limbo.
Why the Unions are Striking Now:
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Unprecedented Pressure: Employees report high stress levels due to staff shortages and extended hours.
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Digital Transformation: Unions argue that with UPI, Mobile Banking, and Net Banking handling the bulk of routine transactions, physical branches no longer need to operate six days a week.
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Agreed Extension: Employees have already agreed to extend daily working hours by 40 minutes (Monday to Friday) to compensate for the loss of Saturday working hours.
Impact on Services
While digital channels remained operational, traditional banking suffered significant disruptions.
Cash Deposits/Withdrawals: Suspended at most PSB branches.
Cheque Clearing: Delayed; CTS operations impacted.
Loan Processing: Halted at the branch level.
ATMs: Mostly operational, but localized cash shortages reported.
Digital (UPI/IMPS): Fully Operational.
The Scene in Jammu
Demonstrations were held at various centers in the city, where employees gathered with placards and banners. Rajesh Mehta, AIBOC Secretary (Jammu, Kashmir & Ladakh), and Vishal Verma addressed the protesting staff, emphasizing that bank employees are not against public service but are fighting for “humane working conditions.”
“We have waited patiently since 2015. Strikes were deferred multiple times on government assurances, but inaction has forced our hand. A rested banker serves the nation better,” stated the joint memorandum.
The UFBU—an umbrella body of nine unions including AIBEA, AIBOC, and NCBE—has warned that if the government fails to notify the 5-day work week immediately, the agitation will be intensified. They have appealed directly to the Ministry of Finance to honor the agreement signed with the IBA.
