Image Source Mint
NEW DELHI — Banking services across India were crippled today, Tuesday, January 27, 2026, as more than 800,000 employees and officers from public sector banks (PSBs) joined a massive nationwide strike. The strike, called by the United Forum of Bank Unions (UFBU), an umbrella body of nine major unions, has effectively frozen branch-level operations for the third consecutive day following the Sunday and Republic Day holidays.
The Core Demand: A Five-Day Week
The strike is the culmination of a decade-long battle for a five-day work week. While the 12th Bipartite Settlement signed with the Indian Banks’ Association (IBA) in March 2024 included a recommendation to declare all Saturdays as holidays, the central government has yet to issue the formal notification.
“A rested banker serves the nation better. 5-day banking is not a luxury; it is an economic and human necessity,” stated L. Chandrasekhar, General Secretary of the National Confederation of Bank Employees (NCBE).
To ensure no loss of productivity, unions have offered to work an extra 40 minutes daily from Monday to Friday. They argue that institutions like the RBI, LIC, and Stock Exchanges already follow this model, leaving bank employees as the outliers.
Impact on Customers: Branches vs. Digital
The timing of the strike has created a “triple-threat” for customers, as physical branches have remained largely inaccessible since January 25.
What is Hit:
Public Sector Giants: Major disruptions are reported at State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda, and Canara Bank.
Counter Services: Cash deposits, manual withdrawals, cheque clearances, and passbook updates have come to a complete standstill at most PSB branches.
Logistics: While many ATMs are operational, localized cash shortages are expected by this evening due to logistical delays in replenishment.
What is Working:
Digital Channels: UPI, Net Banking, and Mobile Banking apps remain fully functional.
Private Lenders: Major private sector banks such as HDFC, ICICI, and Axis Bank are operating normally, as their staff are not part of the striking unions.
The Government’s Stance
Conciliation meetings held last week between the Chief Labour Commissioner, the Finance Ministry, and union leaders ended in a deadlock. While the government acknowledges the 2024 agreement, officials have remained non-committal on the specific date for the notification, citing the need for “further internal review.”
As the sun sets on today’s strike, the UFBU has warned that if the government continues to delay the notification, the unions may consider an indefinite strike during the upcoming Budget session.
