New Delhi, Jan 27: Banking operations in public sector banks are expected to be severely disrupted on Tuesday due to a nationwide strike called by bank employee unions, demanding a five-day work week. The strike, led by the United Forum of Bank Unions (UFBU), will affect services in banks like the State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda. However, private sector banks such as HDFC Bank, ICICI Bank, and Axis Bank will remain unaffected as their employees are not part of the strike.
The UFBU, a collective of nine unions representing officers and employees of public sector banks, decided to go ahead with the strike after a conciliation meeting with the Chief Labour Commissioner on January 23 failed to resolve the issue.
As a result, essential banking services, including cash deposits and withdrawals, cheque clearances, and other routine administrative tasks are expected to be delayed or interrupted at public sector banks. However, digital banking services like UPI payments and internet banking are expected to continue without significant disruptions. There may be some local issues with ATM cash availability due to operational challenges.
The State Bank of India (SBI) has issued a regulatory filing stating that, while arrangements have been made to ensure normal operations, the strike may still impact work in branches and offices. "While the Bank has made necessary arrangements to ensure normal functioning in its branches and offices on the day of the strike, it is likely that work in the Bank may be impacted," an official statement from SBI read.
The central demand of the unions is the official declaration of all Saturdays as holidays for employees. This proposal was part of the 12th Bipartite Settlement signed with the Indian Banks’ Association in March 2024, but it has yet to be formally notified by the government, leading to continued unrest among banking employees.
Customers of public sector banks are advised to plan ahead for any disruptions in service, while private sector bank customers should see minimal impact.
