Lucknow Bank Strike Causes Rs 2,500 Crore Transaction Disruption
The nationwide bank strike called by the United Forum of Bank Unions (UFBU) on Tuesday led to significant financial disruption across India, with Lucknow experiencing particularly severe impacts. Banking transactions worth an estimated Rs 2,500 crore were affected in the city alone as employees protested to demand the implementation of a five-day banking week.
Complete Standstill in Banking Operations
Normal banking operations across Lucknow came to a complete standstill as approximately 16,000 employees and officers from 905 public sector bank branches participated in the strike. The widespread absence of staff resulted in the suspension of essential banking services throughout the city.
Clearing operations were severely impacted, affecting numerous financial activities including:
- Customer deposits and withdrawals
- Cheque clearances and processing
- Loan disbursals and approvals
- Other essential banking transactions
The disruption caused significant inconvenience to customers, traders, and businesses who rely on daily banking services for their operations and financial management.
Protest and Public Meeting in Hazratganj
In Lucknow, the UFBU district unit organized a protest and public meeting outside Indian Bank in Hazratganj. Union leaders emphasized that the financial losses resulting from the strike were a direct consequence of the central government's continued refusal to approve a five-day banking week.
Anil Srivastava, district convenor of UFBU, stated that bank employees had exhausted all democratic means to press their demand. "We have tried sit-ins, rallies, and sustained social media campaigns, but the government remains unmoved," he explained during the protest.
Longstanding Demand for Banking Reform
Addressing the gathering, DK Singh, general secretary of NCBE, highlighted that the demand for a five-day banking week was long overdue. He pointed out that several major financial institutions already operate with five working days, including:
- Reserve Bank of India (RBI)
- Life Insurance Corporation (LIC)
- Securities and Exchange Board of India (SEBI)
- National Bank for Agriculture and Rural Development (NABARD)
- National Payments Corporation of India (NPCI)
- Central Vigilance Commission (CVC)
- Department of Financial Services (DFS)
The union leaders argued that implementing a five-day week in public sector banks would bring parity with these institutions while potentially improving employee productivity and work-life balance.
The strike represents one of the most significant banking disruptions in recent months, highlighting the ongoing tension between bank employees' demands for improved working conditions and the government's current banking policies.
