Banks to remain closed on January 27? Bankers unions plan nationwide strike over 5-day work week demand

Bankers’ unions have announced a nationwide strike on Tuesday, January 27, to reiterate their long-standing demand for a five-day work week for banks.

In a circular, the All India Bank Officers’ Confederation (AIBOC) said the All-India strike call comes after “a lack of response from the government” on the 5-day banking demand, which it said was already agreed upon during the wage revision settlement signed between the Indian Banks’ Association (IBA) and bank unions in March 2024.

“…it is unfortunate that the Government is not responding to our programmes and our genuine demands,” the January 4 circular read.

It also noted that RBI, LIC, GIC, etc., are already working for 5 days a week. Central and State Government offices are not working on Saturdays. And therefore, “there is no reason why banks cannot introduce 5-day banking.”

AIBOC circular highlighted that the 5-day workweek would not affect the manhours “because we have agreed for extra 40 minutes working per day from Monday to Friday”.

Will banks remain closed on January 27?

No, the banks will not be closed on January 27. However, the banking staff would be protesting, and this may hinder some services.

What are the bankers demanding?

The bankers are seeking the introduction of a five-day work week for banks, with all Saturdays off, similar to several other financial and government institutions.

Currently, bank employees get off only on the second and fourth Saturdays.

According to the unions under the United Forum of Bank Unions (UFBU), the remaining two Saturdays were to be declared holidays as part of the earlier settlement, but the decision is yet to be implemented.

#5DayBankingNow

Previously, the banker unions ran demonstrations across the country and recently carried out a social media campaign on X, formerly Twitter, to push their demand.

The AIBOC called its Twitter campaign “a superhit programme,” and said that their Hashtag #5DayBankingNow had 18,80,027 impressions and there were more than 3,00,000 tweets/posts (till 03-30 PM), according to reports.

“We congratulate all our units and members on this commendable success,” it added.

The Bank Officers’ Confederation said it is awaiting the government to implement the 5-day workweek, adding that their inaction has prompted the decision to escalate the agitation.