Public sector banks across India are to go on a nationwide strike on Tuesday, 27 January, after the United Forum of Bank Unions (UFBU) decided to press ahead with the action, demanding the immediate implementation of a five-day work week. The strike is expected to disrupt banking operations across the country.

What Is The Reason For The Strike?

The strike has been called by the UFBU, an umbrella body representing nine unions of bank officers and employees. The move follows a conciliation meeting held on 23 January with the Chief Labour Commissioner, which failed to produce a resolution.

Services Likely to Be Affected

Branch-based services at public sector banks (PSBs) are likely to be hit, including cash deposits, withdrawals, cheque clearances, and other administrative work. Major banks such as State Bank of India (SBI), Canara Bank, Punjab National Bank (PNB), and Bank of Baroda are expected to be impacted.

Several lenders, including SBI, have informed stock exchanges about the potential disruption. SBI said in a regulatory filing:

"While the bank has made arrangements to ensure normal functioning in its branches and offices on the day of the strike, work may be affected due to the strike."

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Services That Will Continue

  • Digital banking services are expected to remain operational. These include:
  • Automated Teller Machines (ATMs)
  • Automated Deposit cum Withdrawal Machines (ADWMs)
  • Business Correspondents and Customer Service Points
  • Internet banking
  • Mobile banking
  • UPI payments

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Private Banks Unaffected

Operations at major private sector banks such as HDFC Bank, ICICI Bank, and Axis Bank are expected to continue as normal, as their employees are not part of the unions participating in the strike.

Currently, public sector banks operate on the first, third, and fifth Saturdays of each month.