Bank employee unions have announced a nationwide strike on January 27, which could severely disrupt banking services next week. However, it is not yet fully confirmed whether all banks across the country will be closed on that day. If the strike goes ahead, it will be the fourth consecutive day that banks are closed, following the weekend and the January 26 (Republic Day) holiday.
Several major banks have already informed customers that services will be affected if the strike takes place. The United Forum of Bank Unions (UFBU) issued a strike notice earlier this month. Meetings were held with the Chief Labour Commissioner on this issue, involving representatives from the Finance Ministry, banks, and the Indian Banks’ Association (IBA), but no resolution was reached. Following this, the unions decided to go on strike on January 27.
Why are bank employees striking?
Currently, bank employees get holidays on the second and fourth Saturdays of every month, and all Sundays. The employees are demanding that all Saturdays of the month be declared holidays. This was agreed upon during the wage settlement in March 2024, but it has not yet been implemented. The unions say they are willing to work an extra 40 minutes each day, Monday to Friday, to compensate for the reduced working hours, but the government has yet to address their demand.
What should customers do?
The strike is scheduled from 12 AM on January 26 to 12 AM on January 27. Several banks, including SBI, have advised customers to use digital banking, mobile apps, internet banking, and ATMs during this period. Customer service points will also remain open if needed. Overall, it would be best to complete any essential banking transactions before the strike begins.
