Banking services in Guwahati experienced significant disruption on Tuesday as employees participated in a nationwide strike organized by the United Forum of Bank Unions (UFBU). The industrial action, which saw widespread participation across public sector banks, private banks, foreign banks, and cooperative banks, brought routine transactions and customer services to a virtual halt throughout the city.
Nationwide Impact of Banking Strike
According to union representatives, approximately eight lakh bank employees across India joined the strike to press for their long-standing demand for a five-day work week in the banking sector. The strike affected all banking operations, leaving customers unable to conduct essential financial transactions and access banking services.
Core Demand: Saturday Holidays
Naren Sarma, president of the bank employees' federation for the northeastern region, explained that UFBU—an umbrella organization representing nine major bank unions—has been demanding government approval to implement a five-day work week by declaring all Saturdays as holidays. Currently, banks observe holidays only on the second and fourth Saturdays of each month, with the remaining Saturdays functioning as regular working days.
Sarma highlighted the inconsistency in working patterns across financial institutions, noting that "the Reserve Bank of India, Life Insurance Corporation, and General Insurance Corporation already follow this five-day work week rule. All central and state government offices operate from Monday to Friday, and stock exchanges function exclusively on weekdays. Even money market and foreign exchange transactions remain closed on Saturdays and Sundays."
Historical Context and Broken Promises
The demand for a five-day work week in banking has a long history. Sarma revealed that in a 2015 settlement, the Indian Banks' Association and the government agreed to declare the second and fourth Saturdays as holidays. At that time, UFBU received assurances that their demand to make all Saturdays holidays would receive serious consideration.
However, the matter has remained unresolved for years. In 2022, the government and Indian Banks' Association agreed to discuss the issue with UFBU and explore increasing daily working hours to accommodate declaring the remaining Saturdays as holidays. Following discussions in December 2023, it was agreed that daily working hours from Monday to Friday would be increased by 40 minutes, and this recommendation was submitted to the government for approval.
Government Inaction and Frustration
"Unfortunately, this proposal has been pending government approval for the past two years," Sarma lamented. He expressed frustration over the government's delayed response despite multiple conciliation efforts.
UFBU had previously called for a two-day strike last year but deferred the action following government assurances that the matter was under active consideration. Even after conciliation meetings held by the chief labour commissioner in Delhi in January, no positive response was received from the finance ministry, leading to the current nationwide strike.
Implications for Banking Sector
The strike highlights growing discontent among bank employees who argue that their working conditions lag behind other financial sector institutions and government offices. The disruption in Guwahati and across India underscores the potential impact of prolonged industrial action on the country's financial ecosystem and customer service delivery.
As banking operations remain suspended, customers in Guwahati and nationwide face inconvenience, while bank employees continue their push for working conditions they believe should align with modern workplace standards and practices already established in comparable financial institutions.
