Public sector banking operations are expected to face disruptions on Tuesday due to a nationwide strike called by bank employee unions. The United Forum of Bank Unions (UFBU), representing officers and employees of public sector banks, initiated the strike after a failed conciliation meeting with the Chief Labour Commissioner on January 23. Services like cash transactions, cheque clearances, and routine administrative tasks at public sector banks, including SBI, PNB, and Bank of Baroda, are likely to be impacted.
Private banks such as HDFC Bank, ICICI Bank, and Axis Bank are anticipated to operate normally as their employees are not part of the striking unions. While digital banking services like UPI payments and internet banking are expected to continue smoothly, there may be local disruptions in ATM cash availability. SBI, in a regulatory filing, mentioned that despite arrangements for normal operations, the strike may affect banking services due to employee participation.
The primary demand of the unions is the declaration of all Saturdays as holidays, a proposal included in the 12th Bipartite Settlement with the Indian Banks’ Association in March 2024. However, this demand is pending formal notification from the government.
