Employees of all government banks will be on strike across the country today. According to PTI, the United Forum of Bank Unions (UFBU) has announced a strike today. The union is demanding 5-day working for the employees. Due to the strike, work like cash transactions and check clearance will not happen in banks. After the holiday of fourth Saturday of the month (January 23), Sunday (January 25) and Republic Day (January 26), this will be the fourth consecutive day when the functioning of public sector banks will be affected. However, work is going on normally in private banks. Private banks are not part of UFBU. Why are the employees on strike? The main bone of contention between bank unions and the government is Saturday holiday. Bank employees have been demanding the implementation of ‘5-day work week’ (only 5 days of work in a week) for a long time. It was agreed to declare all Saturdays as a holiday during the 12th bilateral agreement between the Indian Banks Association (IBA) and the unions in March 2024. But despite the agreement, its official notification has not been issued yet. The unions’ argument for 5-day working is that we are asking for a balanced methodology. We are willing to work an extra 40 minutes every day in return. At present banks remain closed only on the second and fourth Saturday of the month. The union wants the government to issue its official notification immediately. What effect will the strike have on the common man and which services will remain operational?
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