Bank Strike: If you have any important work at bank branches today, then you'll have to wait for Thursday as operations in major banks, including the State Bank of India (SBI) and Bank of Baroda among others, as well as ATMs will be affected across the country due to the 'Bharat Bandh' call issued by Central Trade Unions (CTU). Other than banks, transport services and schools are also set to be hit as nearly 25 crore people will be taking part in this all-India strike to protest the government's policies.
Banking services like deposit and withdrawal, cheque-clearing and instrument issuance are also expected to be impacted due to the strike.
Services at these banks to be hit:
State Bank of India, the biggest lender in India, has issued a statement on bank strike across the country and said that its operations will be minimal as the membership of bank employees in unions participating in the strike is very few.
"The membership of our bank employees in unions participating in the strike is very few, so the impact of the strike on bank's operation will be minimal," SBI had told the stock exchanges in a filing on Friday.
However, Bank of Baroda fears the operation of its branches and offices may be affected or even paralysed as a result of the bank strike tomorrow. Netbanking services, thankfully, are unlikely to be affected.
"The bank is taking necessary steps for the smooth functioning of bank's branches/offices on the day of the strike, in the event the strike materializes, the functioning of the branches/offices may be affected/paralyzed," it said in a regulatory filing.
Meanwhile, Syndicate Bank has said its services may be affected and it is taking requisite measures for the smooth functioning of its branches on the day of the strike.
The bank has issued a public notice asking customers to bear with them. It has also asked the customers to make transactions before the bank strike on January 8.
"Bank has received notice served by... on the proposed strike on January 8, 2020," the public-sector lender said in a regulatory filing on Saturday. "The bank is taking necessary steps for the smooth functioning of the bank's branches/offices on the day of the proposed strike. However, in the event, the strike materialises the functioning of the branches/offices may be impacted by the strike."
Trade unions call for Bharat Bandh:
However, services at private sector banks are unlikely to be impacted.
Other than banking, transport and other key services are also likely to be disrupted in many states due to this nationwide strike call.
Ten central trade unions like INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF, UTUC along with various sectoral independent federations and associations had adopted a declaration in September last to go on a nationwide strike on January 8, 2020.
Several banks have already informed stock exchanges about the strike and its impact on banking services. Various bank employee associations, including AIBEA, All India Bank Officers' Association (AIBOA), BEFI, INBEF, INBOC and Bank Karmachari Sena Mahasangh (BKSM), have expressed their willingness to participate in the strike.