PSBs to remain closed today as unions seek 5-day work

New Delhi: Banking operations of public sector banks across the country are likely to be impacted on Tuesday with the United Forum of Bank Unions (UFBU) deciding to go ahead with a nationwide strike on January 27 to press for the immediate implementation of a five-day work week.

The strike call was given by the UFBU, an umbrella body of nine unions representing officers and employees. All India Bank Officers’ Confederation (AIBOC) general secretary Rupam Roy said the decision to declare all Saturdays as holidays was agreed between the Indian Banks’ Association and UFBU during the wage revision settlement in March 2024.

“It is unfortunate that the government is not responding to our genuine demand,” he said. Services such as cash deposits, withdrawals, cheque clearances, and administrative work are expected to be hit at branches of public sector banks (PSBs), including SBI, PNB, and Bank of Baroda. However, operations at major private sector lenders like HDFC Bank, ICICI Bank, and Axis Bank are expected to remain largely unaffected as their employees are not part of the unions that will be going on strike.