Banking services at several public sector bank branches in Jalandhar were affected on Friday, September 11, as bank employees joined a nationwide strike called by the United Forum of Bank Unions (UFBU).
Employees also staged a protest in Jalandhar, raising demands related to the five-day workweek, pension provisions, performance-linked incentives and increasing work pressure in the banking sector.
For customers, the strike mainly affects branch-based banking services.
Several public sector bank branches across the country have either remained closed or are operating with minimal staff and services such as cash deposits and withdrawals, cheque-related work and routine administrative and back-office operations are among those affected.
However, customers can continue to use digital banking facilities: UPI payments, mobile banking applications, internet banking, ATMs and other online channels remain available.
The nationwide strike has been called by the UFBU, an umbrella organisation representing seven bank employee and officer unions, these include the Bank Employees Federation of India (BEFI), All India Bank Employees’ Association (AIBEA), Indian National Bank Officers’ Congress (INBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), Indian National Bank Employees’ Federation (INBEF) and All India Bank Officers’ Confederation (AIBOC).
The unions are seeking action from the Central Government and bank management on several long-pending demands and one of their main demands is the implementation of a five-day banking week, under which all Saturdays would be declared bank holidays.
At present, bank branches remain open on the first, third and fifth Saturdays of the month and according to the unions, the proposal to introduce a five-day banking week was agreed upon during the 12th Bipartite Settlement with the Indian Banks’ Association (IBA) in March 2024. However, its implementation is still pending central government approval.
Bank employees have also raised concerns over work pressure and performance-linked incentives.
The five-day workweek is one of the key demands of the protesting unions. Employees argue that a large share of banking services is now carried out digitally through UPI, mobile banking and internet banking, and are seeking an official notification declaring all Saturdays as holidays and the unions are also demanding changes related to pension benefits. Their demands include an overhaul of pension structures and a standard Dearness Allowance (DA) calculation formula for all retirees.
Another demand is to provide bank employees covered under the National Pension System (NPS) with an option to shift to the Old Pension Scheme (OPS).
The unions have also raised issues related to pending wage-related matters and working conditions.
In Jalandhar, Vinod Sharma, Deputy General Secretary of the PNB Staff Union, said the unions were seeking action from the Central Government and bank management on their pending demands and he also highlighted the demand for a five-day banking week and concerns related to increasing work pressure in the sector.
The strike has primarily affected public sector banking operations.
Major banks whose employees have joined the strike include State Bank of India, Union Bank of India, IDBI Bank, Indian Bank, UCO Bank and Punjab National Bank, among others and the impact is more visible at branch level, where services requiring staff presence have been disrupted.
For customers who need to visit a branch for cash-related transactions, cheque processing or other routine banking work, the strike may result in delays or temporary unavailability of services, however, digital transactions continue to provide an alternative for customers who do not require branch-based services.
The September 11 strike is not the only strike announced by the UFBU.
The unions have also called for another strike from September 28 to September 30 and according to the strike plan, discussions with the government may follow. If the unions' issues remain unresolved, the UFBU has indicated the possibility of an indefinite strike from October 26.
For customers in Jalandhar, the immediate impact remains concentrated on physical branch services, while ATMs, UPI, mobile banking and internet banking continue to provide access to several routine banking facilities.