Bank strike today: Will SBI, PNB remain closed? What services to be affected? All you need to know
Bank strike: Even though not technically a bank holiday, the nationwide bank strike called by UFBU, an umbrella body of nine unions representing officers and employees, is expected to hit services at public sector banks.
Banking functions of public sector banks across India, including SBI and PNB, are expected to be disrupted on Tuesday as the United Forum of Bank Unions (UFBU) begins its plan to observe a nationwide strike. Notably, banks already have observed holidays on 24, 25 and 26 January for the fourth Saturday, Sunday and Republic Day. With the strike on Tuesday, some branches will remain closed for the fourth consecutive day, adding to customer inconvenience.
Which banks will remain closed?
Even though not technically a bank holiday, the nationwide bank strike called by UFBU, an umbrella body of nine unions representing officers and employees, is expected to hit services at public sector banks.
State Bank of India (SBI), Punjab National Bank (PNB), Union Bank, Canara Bank and Bank of Baroda are likely to see their operations disrupted.
What are their demands?
The United Forum of Bank Unions (UFBU) decided to go ahead with a nationwide strike on January 27 to press for the immediate implementation of a five-day work week. The strike call by the UFBU, an umbrella body of nine unions representing officers and employees, comes after a conciliation meeting on January 23 with the chief labour commissioner failed to yield a positive outcome.
"Despite detailed discussions during the conciliation proceedings, there was no assurance on our demand. Hence, we have been compelled to proceed with the strike action," All India Bank Employees Association (AIBEA), a constituent of UFBU, General Secretary C H Venkatachalam told PTI.
All India Bank Officers' Confederation (AIBOC) General Secretary Rupam Roy said the decision to declare all Saturdays as holidays was agreed between the Indian Banks' Association and UFBU during the wage revision settlement in March 2024.
"It is unfortunate that the government is not responding to our genuine demand. There would be no loss of man-hours as we have agreed to work an extra 40 minutes daily from Monday to Friday," he said.
According to another UFBU constituent National Confederation of Bank Employees (NCBE) General Secretary L Chandrasekhar said, "This movement is not against customers, but for a sustainable, humane, and efficient banking system. A rested banker serves the nation better. A balanced workforce strengthens financial stability. 5-Day banking is not a luxury; it is an economic and human necessity."
What services likely to be affected?
Services such as cash deposits, withdrawals, cheque clearances, and administrative work are expected to be hit at branches of public sector banks (PSBs), including State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda.
However, operations at major private sector lenders like HDFC Bank, ICICI Bank, and Axis Bank are expected to remain largely unaffected as their employees are not part of the unions that will be going on strike. Digital banking services, including UPI and internet banking, will continue to function, though ATM cash availability could face localised issues due to logistical delays.
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