Banking Services Paralyzed Across Madhya Pradesh as Employees Observe Nationwide Strike
Operations at public sector banks throughout Madhya Pradesh came to a grinding halt on Tuesday as employees participated in a nationwide strike organized by the United Forum of Bank Unions (UFBU). This industrial action severely impacted routine transactions and customer services across the state, creating significant inconvenience for banking customers.
Massive Financial Impact Estimated at ₹3,500 Crore
The day-long strike resulted in substantial financial repercussions, with banking business worth approximately ₹3,500 crore estimated to be affected across Madhya Pradesh. Indore, one of the state's premier banking hubs, bore a particularly heavy burden, accounting for around ₹1,295 crore of this impact alone, according to UFBU Indore coordinator MK Shukla.
Widespread Disruption Across Banking Infrastructure
The strike affected more than 7,000 bank branches throughout the state, with participation from over 20,000 employees and officers. Customers experienced significant disruptions in essential branch-based services, including:
- Cash deposits and withdrawals
- Cheque clearance processes
- Loan disbursals and processing
- Locker access for customers
- Passbook updates and maintenance
- Various account-related work
Many branches remained completely closed, while others operated with minimal skeletal staff, severely limiting service availability.
Protest Demonstrations in Indore
In Indore, bank employees and officers organized a protest rally that commenced from the Press Club and proceeded to Gandhi Hall. The demonstration witnessed active participation from staff members representing various public sector banks operating within the city, highlighting the solidarity among banking professionals.
Core Demand: Implementation of Five-Day Working Week
The UFBU, which functions as an umbrella organization comprising nine major unions representing officers and employees of public sector banks, has put forward a key demand for the immediate implementation of a five-day working week. This proposed change would designate all Saturdays as holidays for public sector banks.
Banking unions have emphasized that central and state government offices already function from Monday to Friday, while stock exchanges similarly operate five days a week. Furthermore, money market and foreign exchange transactions remain closed during weekends, strengthening the argument for comparable working conditions within the banking sector.
According to Shukla, the demand for a five-day working week aims to enhance operational efficiency while simultaneously ensuring better work-life balance for bank employees, who currently work six days a week in many instances.
Digital Services Remain Functional Amid Physical Disruptions
While traditional banking services faced severe disruption, ATM services and digital banking platforms including UPI, mobile banking, and internet banking remained largely operational throughout the strike period. However, trade bodies reported that cheque clearance, cash-based transactions, and loan processing activities were significantly impacted.
Return to Normalcy Expected with Potential Delays
Normal banking operations are anticipated to resume from Wednesday, though officials have cautioned that the clearance of pending transactions accumulated during the strike may require additional time. The banking sector is expected to gradually return to regular functioning as employees report back to work following the successful demonstration of their collective bargaining power.
