Bank Unions Threaten Nationwide Strike on Jan 27 for 5-Day Work Week

• United Forum of Bank Unions (UFBU) calls for a nationwide strike on January 27, demanding a 5-day work week.
• The strike would impact public sector banks for three consecutive days, as January 25 and 26 are holidays.
• UFBU states a 5-day work week was agreed upon with Indian Banks’ Association (IBA) during the March 2024 wage revision.
• Unions argue there will be no loss of man-hours, as employees agreed to work an extra 40 minutes daily from Monday to Friday.
• UFBU highlights that RBI, LIC, GIC, government offices, and financial markets already operate on a 5-day work week.

Why It Matters: Bank unions plan a Jan 27 strike for a 5-day work week, citing prior agreement and industry standards.