Public Banks Closed: Employee Strike Demands 5-Day Workweek, Disrupts Services

• Public sector banks nationwide are closed due to a strike called by the United Forum of Bank Unions (UFBU).
• The strike, following a Sunday and Republic Day holiday, creates a three-day disruption in branch services.
• UFBU demands the implementation of a five-day workweek, a decision agreed upon in March 2024 but not yet enforced.
• Bank employees have agreed to work an additional 40 minutes daily on weekdays to compensate for the shorter week.
• While branch services are affected, digital channels like UPI, banking apps, and ATMs remain operational; private banks are unaffected.

Why It Matters: Bank employees strike for a five-day workweek, impacting public bank services but not digital banking.