Bank Strike Alert: Nationwide Disruption Expected Tomorrow Over Five-Day Workweek Demand

• Public sector banks may face nationwide disruption on January 27 due to a strike called by the United Forum of Bank Unions (UFBU).
• The strike is to press for the implementation of a five-day workweek, a demand stemming from a March 2024 wage revision settlement.
• Talks between UFBU and authorities, including conciliation meetings by the Chief Labour Commissioner, failed to resolve the issue.
• Major government-owned lenders like SBI, PNB, Bank of India, and Bank of Baroda are expected to be affected, impacting customer services.
• UFBU argues a five-day week with extended daily hours would not reduce productivity, citing other institutions already on this schedule.

Why It Matters: Bank unions call for a nationwide strike on January 27 demanding a five-day workweek, impacting public sector banking services.