Business
Five-Day Workweek Demand: Banks May Remain Closed Tomorrow Due To Nationwide Strike
Last Updated:
The strike is expected to impact major government-owned lenders, including State Bank of India, Punjab National Bank, Bank of India, Bank of Baroda, and other public sector banks.
The UFBU has argued that moving to a five-day schedule would not reduce productivity, as employees have agreed to work an additional 40 minutes per day from Monday to Friday.
Public sector banks across the country may face disruption on January 27 after bank employee unions announced a nationwide strike to press for the implementation of a five-day workweek. If the strike goes ahead, customers could see banking services affected on Tuesday, January 27.
The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body representing nine major bank unions, after talks with authorities failed to yield a breakthrough.
Why are bank unions going on strike?
The demand stems from a wage revision settlement signed in March 2024 between the Indian Banks’ Association (IBA) and the UFBU, under which both sides had agreed to make all Saturdays holidays. However, the decision is yet to be implemented, prompting unions to escalate the matter.
Following the strike notice, the Chief Labour Commissioner held conciliation meetings on Wednesday and Thursday to resolve the issue. Despite these discussions, unions said there was no progress.
“Despite detailed discussions, finally there was no positive outcome out of the conciliation proceedings,” the UFBU said, adding that it has been decided to go ahead with the strike on January 27, as reported by news agency PTI.
Earlier this month, the union had also said, “It is unfortunate that the government is not responding to our genuine demand.”
Which banks may be affected?
The strike is expected to impact major government-owned lenders, including State Bank of India, Punjab National Bank, Bank of India, Bank of Baroda, and other public sector banks.
Several banks have already informed customers about possible service disruptions if the strike materialises.
Currently, bank employees get the second and fourth Saturdays off, apart from Sundays. The UFBU has argued that moving to a five-day schedule would not reduce productivity, as employees have agreed to work an additional 40 minutes per day from Monday to Friday.
The unions have also pointed out that institutions such as the Reserve Bank of India, LIC, stock exchanges and government offices already follow a five-day workweek, questioning why banks continue with a longer schedule.
Private sector banks such as HDFC Bank, ICICI Bank and Kotak Mahindra Bank are not expected to be affected by the strike.
Click here to add News18 as your preferred news source on Google.
January 26, 2026, 12:23 IST
Read More
Heineken has announced a substantial investment exceeding £44 million into hundreds of its pubs across the UK, a move expected to create approximately 850 jobs.
The Dutch brewing giant’s Star Pubs operation, which manages 2,350 sites nationwide, is undertaking this significant financial commitment despite a challenging period for the pub sector.
The industry has faced considerable pressure over the past year, grappling with escalating labour costs and increases in national insurance contributions.
Concurrently, consumer spending has been constrained by concerns over inflation and rising unemployment, further impacting pub revenues. However, pubs did receive additional business rates support from the government last month, aimed at alleviating some of these financial burdens.
Lawson Mountstevens, managing director of Star Pubs, indicated that the investment strategy is partly designed to bolster revenues and help the group navigate the recent “sustained increases in running costs”.
This year, £44.5 million will be allocated to upgrades for 647 pubs. A notable 108 of these venues are earmarked for particularly significant cash injections, with each transformation costing at least £145,000.
Heineken clarified that while the majority of its pubs are group-owned, they are independently operated by local licensees. A key focus for this investment, particularly in the lead-up to the 2026 football World Cup, will be on sports-focused venues.
The pub firm and brewer has a history of significant investment in British pubs, having pumped £328 million into the sector since 2018. Work has already commenced at 52 locations, including eight projects dedicated to reopening boarded-up pubs that have endured lengthy closures.
Mr Mountstevens also urged the government to reduce the tax burden on pubs, arguing it would ease cost pressures and foster further job creation within the industry.
He stated: “We can only do so much; the root-and-branch reform of business rates that the industry has been calling for over many years is urgently required, as well as a lowering of the burden of taxation on pubs, including VAT and beer duty.”
He concluded with a direct appeal: “We are calling on the Government to support us in bringing out the best in the Great British pub.”
GameStop’s boss Ryan Cohen says he sees potential to make eBay a much bigger rival to Amazon.
Source link
It comes as the US said on Monday it will begin to help “guide” vessels out of the Strait of Hormuz.
Source link
Tarik Skubal to undergo elbow surgery, sidelining Tigers ace for months ahead of free agency
Jake Paul breaks silence after Olivia Rodrigo’s savage SNL joke
UAE says air defences engage Iranian missiles, drones as flights diverted
-
Tech1 week agoA Brain Implant for Depression Is About to Be Tested in Humans
-
Tech1 week agoAlmost 90% of women leave tech industry within 10 years | Computer Weekly
-
Business1 week agoPakistan’s oil market is fuelling the crisis | The Express Tribune
-
Business7 days ago‘I had £20,000 stolen and had to fight a 13-month fraud reporting rule to get it back’
-
Sports6 days agoPro wrestling star Steph De Lander reveals how colleague’s advice helped lead her to title triumph at ACW
-
Entertainment1 week agoNorway joins Type 26 Frigate Programme to boost NATO naval power
-
Entertainment1 week agoMelania Trump says ABC should ‘take a stand’ on late-night host Kimmel
-
Tech6 days agoThis Ambitious Laptop Doesn’t Leave Much Room for Your Hands