Indian Bank unions affiliated with the United Forum of Bank Unions (UFBU) have warned of a nationwide strike on January 27 to demand the implementation of a 5-day work week. If the protest goes ahead, public sector banks are likely to see prolonged disruption, as January 25 and 26 are already holidays, effectively affecting services for three consecutive days.&nbsp;Currently, bank staff are off on the second and fourth Saturday each month, in addition to Sundays. Under the wage revision agreement reached between the Indian Banks' Association (IBA) and UFBU during the wage revision settlement in March 2024, both sides had decided to make the remaining Saturdays non-working days as well.&nbsp;"It is unfortunate that the government is not responding to our genuine demand. There would be no loss of man-hours because we have agreed to an extra 40 minutes working per day from Monday to Friday," UFBU said in a statement.<h3>Five-day work week</h3>It stated that RBI, LIC, GIC, etc., are already working for 5 days a week, adding that the foreign exchange market, money market, stock exchanges, etc., are not working on Saturdays. In addition, the central and state government offices also do not work on Saturdays.&nbsp;The statement said there was no justification for banks not adopting a five-day work week, adding that a call has been issued for an all-India strike across banks on January 27, 2026.&nbsp;UFBU, which brings together nine major banking unions in India and represents staff and officers from public sector banks and some old private sector lenders, noted that its social media push under the hashtag #5DayBankingNow has garnered over 18.8 lakh impressions and around 2.85 lakh posts on X.&nbsp;Also read: <a href="https://www.wionews.com/world/some-good-some-bad-how-indian-firms-and-energy-security-could-be-affected-by-us-running-venezuela-after-taking-maduro-into-custody-1767595214192">Some good, some bad: How Indian firms and energy security could be affected by US “running” Venezuela after taking Maduro into custody</a>

Under the wage revision agreement reached between the Indian Banks' Association (IBA) and UFBU during the wage revision settlement in March 2024, both sides had decided to make the remaining Saturdays non-working days as well.

Indian Bank unions affiliated with the United Forum of Bank Unions (UFBU) have warned of a nationwide strike on January 27 to demand the implementation of a 5-day work week. If the protest goes ahead, public sector banks are likely to see prolonged disruption, as January 25 and 26 are already holidays, effectively affecting services for three consecutive days. Currently, bank staff are off on the second and fourth Saturday each month, in addition to Sundays. Under the wage revision agreement reached between the Indian Banks' Association (IBA) and UFBU during the wage revision settlement in March 2024, both sides had decided to make the remaining Saturdays non-working days as well. "It is unfortunate that the government is not responding to our genuine demand. There would be no loss of man-hours because we have agreed to an extra 40 minutes working per day from Monday to Friday," UFBU said in a statement. Five-day work week It stated that RBI, LIC, GIC, etc., are already working for 5 days a week, adding that the foreign exchange market, money market, stock exchanges, etc., are not working on Saturdays. In addition, the central and state government offices also do not work on Saturdays. The statement said there was no justification for banks not adopting a five-day work week, adding that a call has been issued for an all-India strike across banks on January 27, 2026. UFBU, which brings together nine major banking unions in India and represents staff and officers from public sector banks and some old private sector lenders, noted that its social media push under the hashtag #5DayBankingNow has garnered over 18.8 lakh impressions and around 2.85 lakh posts on X. Also read: Some good, some bad: How Indian firms and energy security could be affected by US “running” Venezuela after taking Maduro into custody

Under the wage revision agreement reached between the Indian Banks' Association (IBA) and UFBU during the wage revision settlement in March 2024, both sides had decided to make the remaining Saturdays non-working days as well.

Bank strike on January 27? Cash withdrawals, cheque deposits may not be possible on these 3 days

The representative organization of bank employees United Forum of Bank Unions (UFBU) and Indian Banks' Association (IBA) have agreed on a 15 per cent hike in the existing wage bill of 35 lenders, along with a first-of-its-kind performance-linked incentive (PLI) for state-owned banks.

The wage revision will be effective from 1 November, 2017. The wage revision will benefit nearly 10 lakh employees.

“The annual wage increase in salary and allowances is agreed at 15 per cent of the wage bill as of March 31, 2017, which works out to be Rs 7,898 crore on pay slip components (annually),” according to a memorandum of understanding between the Indian Banks’ Association and the United Forum of Bank Unions, representing workmen unions and officers’ associations.

"We are happy to state that in the meeting between the IBA and the UFBU at Mumbai, a broad understanding has been reached and a Memorandum of Understanding (MoU) was signed," All India Bank Employees' Association (AIBEA) General Secretary CH Venkatachalam said.

The new pay scales will be constructed after merging dearness allowance corresponding to 6352 points (average index point as applicable for the quarter of June-July, August, 2016) and adding thereon a loading of 2.5% on basic pay plus dearness allowance as on March 31, 2017 amounting to around ₹1,155 crore.

They also agreed for encashment of privilege leave at five days every year - seven days for workers and officers aged 55 and above - during any festival. 
&nbsp; 
The bank's contribution to National Pension Scheme will be raised to 14 per cent from the current 10 per cent.

(With inputs from agencies)

The representative organization of bank employees United Forum of Bank Unions (UFBU) and Indian Banks' Association (IBA) have agreed on a 15 per cent hike in the existing wage bill of 35 lenders, along with a first-of-its-kind performance-linked incentive (PLI) for state-owned banks.

The representative organization of bank employees United Forum of Bank Unions (UFBU) and Indian Banks' Association (IBA) have agreed on a 15 per cent hike in the existing wage bill of 35 lenders, along with a first-of-its-kind performance-linked incentive (PLI) for state-owned banks. The wage revision will be effective from 1 November, 2017. The wage revision will benefit nearly 10 lakh employees. “The annual wage increase in salary and allowances is agreed at 15 per cent of the wage bill as of March 31, 2017, which works out to be Rs 7,898 crore on pay slip components (annually),” according to a memorandum of understanding between the Indian Banks’ Association and the United Forum of Bank Unions, representing workmen unions and officers’ associations. "We are happy to state that in the meeting between the IBA and the UFBU at Mumbai, a broad understanding has been reached and a Memorandum of Understanding (MoU) was signed," All India Bank Employees' Association (AIBEA) General Secretary CH Venkatachalam said. The new pay scales will be constructed after merging dearness allowance corresponding to 6352 points (average index point as applicable for the quarter of June-July, August, 2016) and adding thereon a loading of 2.5% on basic pay plus dearness allowance as on March 31, 2017 amounting to around ₹1,155 crore. They also agreed for encashment of privilege leave at five days every year - seven days for workers and officers aged 55 and above - during any festival. The bank's contribution to National Pension Scheme will be raised to 14 per cent from the current 10 per cent. (With inputs from agencies)

Banks, trade unions agree on 15% wage hike for bank employees

The United Forum of Bank Unions on Tuesday threatened to intensify their stir in July and August against the 'meagre' two per cent salary hike, officials said.

The bank employees had observed a two-day strike on May 30 and 31 against the hike.

The United Federation of Bank Unions, the umbrella organisation of nine bank unions, met here and congratulated the staff for observing the two-day strike, general secretary of the federation CH Venkatachalam said.&nbsp

"It has been decided to further continue the struggle with more strikes. Having regard to the need for an amicable solution, it was decided to meet the higher authorities in the government and the banks", he told PTI.

"However, if no solution is forthcoming in these meetings, the United Forum of Bank Unions will proceed and announce more agitations", he said.&nbsp

Meanwhile, a report from Tirupathi quoted senior vice-president of the National Confederation of Bank Employees, VVSR Sarma as saying that the bank staff would intensify the stir in a phased manner in July and August to press for their demands.

"Prior to intensifying our agitation, United Forum of Bank Unions decided to submit a memorandum on the wage hike issue and other banking developmental issues to finance minister Arun Jaitley by this month-end," he said.&nbsp

The United Federation of Bank Unions, the umbrella organisation of nine bank unions, met and congratulated the staff for observing the two-day strike

The United Forum of Bank Unions on Tuesday threatened to intensify their stir in July and August against the 'meagre' two per cent salary hike, officials said. The bank employees had observed a two-day strike on May 30 and 31 against the hike. The United Federation of Bank Unions, the umbrella organisation of nine bank unions, met here and congratulated the staff for observing the two-day strike, general secretary of the federation CH Venkatachalam said. "It has been decided to further continue the struggle with more strikes. Having regard to the need for an amicable solution, it was decided to meet the higher authorities in the government and the banks", he told PTI. "However, if no solution is forthcoming in these meetings, the United Forum of Bank Unions will proceed and announce more agitations", he said. Meanwhile, a report from Tirupathi quoted senior vice-president of the National Confederation of Bank Employees, VVSR Sarma as saying that the bank staff would intensify the stir in a phased manner in July and August to press for their demands. "Prior to intensifying our agitation, United Forum of Bank Unions decided to submit a memorandum on the wage hike issue and other banking developmental issues to finance minister Arun Jaitley by this month-end," he said.

Bank staff threaten to intensify stir in July, August

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