The United Forum of Bank Unions (UFBU), representing more than 90 per cent of the workforce in the banking industry, has announced a series of nationwide agitational programmes and strikes demanding implementation of a five-day working week and resolution of several long-pending issues.
The UFBU has scheduled agitational programmes and strikes on September 11 and September 28-30, followed by a continuous and indefinite strike from October 26, 2026, unless the issues are resolved.
The forum comprises seven major banking unions — All India Bank Employees’ Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Officers Congress (INBOC) and Indian National Bank Employees Federation (INBEF).
The Unions represent employees and officers working in public sector and private banks, foreign banks, Regional Rural Banks and cooperative banks.
Five-day banking remains at centre of agitation
The principal demand is the declaration of all Saturdays as bank holidays, paving the way for a five-day working week.
The UFBU said the demand dates back to an agreement reached in May 2015, under which the second and fourth Saturdays were declared holidays, while the remaining Saturdays continued to be full working days. It said assurances were subsequently given that efforts would be made to declare all Saturdays as holidays.
The issue was again discussed in November 2020, when the Indian Banks’ Association (IBA) and bank managements assured the unions that the matter would be pursued for an amicable settlement.
During negotiations for the latest wage revision, the demand was once again taken up. Under an agreement signed in March 2024, the IBA and bank managements agreed to declare the remaining Saturdays as holidays, while the unions agreed to extend daily working hours from Monday to Friday by 40 minutes.
According to the UFBU, the proposal was subsequently recommended to the Ministry of Finance for approval but is still awaiting a decision.
The unions have argued that a five-day working week is already followed by Central and State governments, the Reserve Bank of India, LIC, GIC, NABARD and several other sectors. They maintained that declaring Saturdays as holidays would not reduce customer service hours, as the additional 40 minutes of work on each weekday would compensate for the lost Saturday hours.
The UFBU also pointed to the role played by bank employees during the COVID-19 pandemic and said rising workplace stress has made a better work-life balance increasingly important.
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Pension, recruitment and other issues also unresolved
The five-day week is not the only issue behind the proposed agitation. The UFBU said several “residual issues” arising from the March 2024 wage settlement remain unresolved.
These include adequate recruitment of clerical and sub-staff employees, conversion of the National Pension System (NPS) to the Old Pension Scheme (OPS), exemption from income tax on the additional four per cent contribution by banks to NPS, enhancement of the gratuity ceiling and pension updation.
The unions have also demanded uniform dearness allowance for pensioners, revision of ex-gratia for pensioners who retired before November 2022 and payment of ex-gratia to eligible pensioners in all private banks.
Other demands include filling Workman and Officer Director posts in banks, introduction of a Leave Bank and payment of medical insurance premiums for retirees by banks.
Conciliation talks fail to break deadlock
The UFBU said conciliation meetings were held on September 8 and 9 under the Chief Labour Commissioner and Deputy Chief Labour Commissioner, with officials of the Ministry of Finance also participating.
However, the unions said the talks failed to produce an understanding as the government did not provide any commitment on implementing the five-day working week.
The UFBU alleged that the proposed agitation had been “forced” upon the unions due to the approach of the government and bank managements.
It warned that bank branches would remain closed during the strike days and banking services would consequently be affected.
The forum has appealed to all its constituent unions and members to participate in the announced programmes and strikes in support of the demands.
