Banking Operations Disrupted Due to Nationwide Strike
On January 26, banking operations at public sector banks across the country are expected to face disruptions as the United Forum of Bank Unions (UFBU) proceeds with a nationwide strike. The primary demand of the strike is a five-day work week.
Following an unsuccessful conciliation meeting with the Chief Labour Commissioner on January 23, the decision to strike was made by the UFBU, which is a collective platform of nine unions representing officers and employees of public sector banks.
Impact on Customers and Services
The timing of the strike, coinciding with the closure of banks on Sunday (January 25) and Monday (January 26) for Republic Day, may inconvenience customers. This could result in many branch-level services being unavailable for three consecutive days.
Services such as cash deposits, withdrawals, cheque clearances, and routine administrative work are likely to be affected at public sector banks including the State Bank of India (SBI), the Punjab National Bank (PNB), and the Bank of Baroda.
Private sector banks such as HDFC Bank, ICICI Bank, and Axis Bank are expected to operate normally as their employees are not part of the participating unions. Digital banking services like UPI payments and internet banking are anticipated to continue without significant disruptions. However, there may be local disruptions in ATM cash availability due to operational challenges.
Preparedness of Public Sector Banks
Several public sector banks have already alerted stock exchanges about the potential impact of the strike. Customers are advised to plan their banking transactions accordingly to minimize any inconvenience caused by the disruption in services.
