Bank employees strike for five-day banking week

Bank staff across Mysuru halted operations on Friday after the United Forum of Bank Unions (UFBU) called a one‑day strike to press for a five‑day banking week and related reforms. The UFBU, which aggregates seven bank unions and represents more than 90% of the banking workforce—including public, private, foreign, regional rural and cooperative banks—announced the action, leaving all city branches closed and customers without regular services.

The strike coincided with the existing schedule where only the second and fourth Saturdays of each month are holidays, while the remaining Saturdays are regular working days. UFBU officials said management had previously assured that all Saturdays could become holidays without cutting customer service hours, and the unions are prepared to extend weekday hours by 40 minutes to offset the added holidays. The demand has lingered with the Union Finance Ministry for over two and a half years, even after a settlement signed on March 8, 2024, which left unresolved issues such as converting the National Pension System to the Old Pension Scheme, tax exemption on an extra 4% NPS contribution by banks, and raising the gratuity ceiling under the Gratuity Act. The unions have also warned of additional strikes on September 28‑30 and an indefinite strike from October 26 if their concerns remain unaddressed.

The shutdown underscores the growing pressure on the government and banking management to address long‑standing labor grievances. With banking services suspended, customers in Mysuru faced inconvenience, while the broader banking sector watches the developments for potential ripple effects nationwide. The UFBU’s intensified agitation reflects mounting frustration over unfulfilled promises and highlights the critical balance between employee welfare and uninterrupted financial services.