Public sector bank services may slow down today due to a nationwide strike by unions. Here’s why the protest is happening and what banking services remain available.
Public sector banks may see limited services on Tuesday as employee unions observe a nationwide strike over workweek demands. | ANI video grab
Public sector banks across India may see disruptions on Tuesday after employee unions went ahead with a nationwide strike. The protest is centred on a long-pending demand for a five-day work week.
Private banks are expected to function normally.
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Several state-run banks have already warned customers and investors about possible service interruptions during the day.
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The strike has been called by the United Forum of Bank Unions (UFBU), a collective representing nine unions of officers and employees in public sector banks. The decision came after a conciliation meeting with the Chief Labour Commissioner on January 23 failed to break the deadlock.
Routine banking services are likely to take a hit. This includes cash deposits and withdrawals, cheque clearances and back-office work at major lenders such as Punjab National Bank, State Bank of India, and Bank of Baroda.
In a regulatory filing, SBI said it has tried to keep operations running but acknowledged the impact of staff participation in the strike.
“In this connection, we advise that while the Bank has made necessary arrangements to ensure normal functioning in its branches and offices on the day of strike, it is likely that work in the Bank may be impacted by the Strike,” the bank said.
For most customers, banking will not come to a complete halt. Private lenders such as ICICI Bank, HDFC Bank, and Axis Bank are not participating in the strike and are expected to operate normally through the day.
Digital banking, too, should largely remain unaffected. Most digital services, including UPI, internet banking and mobile apps, are expected to run normally. Some ATMs, though, may face temporary cash issues in a few locations.
The protest itself centres on a long-standing demand by bank unions to move to a five-day work week. While the proposal to declare all Saturdays as holidays was included in the 12th Bipartite Settlement signed with the Indian Banks’ Association in March 2024, it is yet to receive formal clearance from the government.
Until that happens, unions say they will continue to press for implementation.
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