Add thelocalreport.in As A Trusted Source
The strike call by UFBU, an umbrella body of nine unions representing officers and employees, comes after a conciliation meeting with the Chief Labor Commissioner on January 23 failed to yield positive results.
As banks remained closed on January 25 (Sunday) and January 26 (Republic Day), branch level services will be disrupted for three consecutive days due to the strike on Tuesday.
“Despite detailed discussions during the conciliation proceedings, no assurance was received on our demand. Therefore, we have been forced to go ahead with the strike action,” CH Venkatachalam, general secretary of All India Bank Employees Association (AIBEA), a constituent of UFBU, told PTI.
All India Bank Officers Confederation (AIBOC) general secretary Rupam Roy said the decision to declare all Saturdays as holidays was agreed upon between the Indian Banks Association and UFBU during the wage revision agreement in March 2024.
“It is unfortunate that the government is not responding to our genuine demand. There will be no loss of man-hours as we have agreed to work 40 minutes extra daily from Monday to Friday,” he said.
L Chandrasekhar, general secretary of the National Confederation of Bank Employees (NCBE), another constituent of UFBU, said, “This movement is not against customers, but for a sustainable, humane and efficient banking system. A rested banker serves the nation better. A balanced workforce strengthens financial stability. 5-day banking is not a luxury; it is an economic and human necessity.”
Services like cash deposits, withdrawals, check clearance and administrative work in the branches of public sector banks (PSBs) are likely to be affected. state Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda.
However, operations of major private sector lenders like HDFC Bank, ICICI Bank and Axis Bank are expected to remain largely unaffected as their employees are not part of the unions that are going on strike.
Digital banking services including UPI and internet banking will continue to function, although availability of cash at ATMs may face local issues due to logistical delays.
Several public sector lenders, including banking giant SBI, have informed stock exchanges about the possible impact.
“We advise that the bank has made necessary arrangements to ensure normal functioning of its branches and offices on the day of the strike, but there is a possibility that the work in the bank may be affected by the strike,” SBI said in a regulatory filing on Friday.
The unions are demanding declaration of all Saturdays as holidays, a key point that was reportedly agreed upon during the 12th bilateral agreement signed with the Indian Banks Association (IBA) in March 2024, but a government notification is awaited.
At present, banks are open on the first, third and fifth Saturday of every month.