Banking operations at public sector banks nationwide may face disruptions on Tuesday as the United Forum of Bank Unions (UFBU) proceeds with a strike demanding a five-day work week. The decision for the strike came after a meeting with the Chief Labour Commissioner failed to resolve the issue on January 23. The UFBU, comprising nine unions representing officers and employees of public sector banks, is behind this move.
The strike’s timing, falling after Sunday and Monday closures due to Republic Day, could inconvenience customers. With many branch-level services potentially unavailable for three consecutive days, services like cash transactions, cheque clearances, and routine administrative tasks at public sector banks like SBI, PNB, and Bank of Baroda might be impacted.
While private banks such as HDFC Bank, ICICI Bank, and Axis Bank are expected to operate normally as their employees are not part of the striking unions, digital banking services like UPI payments and internet banking are likely to continue smoothly. However, some local disruptions in ATM cash availability may occur due to operational challenges.
Several public sector banks have alerted stock exchanges about the strike’s potential impact. SBI, in a regulatory filing, mentioned that despite efforts to maintain normal operations, banking services could be affected due to employee participation in the strike. The unions’ primary demand is the designation of all Saturdays as holidays, a proposal from the 12th Bipartite Settlement signed with the Indian Banks’ Association in March 2024, pending formal government notification.
