Banking services face another blow after consecutive holidays. The United Forum of Bank Unions (UFBU), an organisation of bank employees, had already called for a nationwide bank strike on Tuesday, January 27. Due to this, work at public sector bank branches has been suspended or is facing problems in most places, as per reports.
Multiple public sector banks have announced that services at their branches will be disrupted due to the strike. However, there will be no issues with digital or online banking.
Several banks have stated that ATM services will also not be affected. While public sector banks are affected by the strike, private bank branches are not expected to be significantly affected.
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What triggered the bank strike across India?
UFBU has been formed with organisations from multiple leading public sector banks. Bank employees are demanding a five-day work week.
Currently, banks remain closed on four Sundays per month and on the second and fourth Saturdays. Bank employees demand that banks should remain closed every Saturday and Sunday. The organisation has stated that they have resorted to strikes after multiple meetings with the Chief Labour Commissioner yielded no results. The organisation demands that RBI, LIC, the stock market, GIC, and multiple government offices also have Saturday and Sunday holidays.
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Using this logic, they have raised the demand for why banks should not have holidays.
UFBU is primarily formed with organisations of public sector banks. It is believed that private bank services will not be affected by the strike on this day.
Which banks are on strike today?
The bank strike has been called by the United Forum of Bank Unions (UFBU), which includes nine bank unions such as AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO.
Due to the strike, services at public sector banks like SBI, PNB, Bank of Baroda and other government-owned banks may be affected.
However, private banks, including HDFC Bank, ICICI Bank and Axis Bank, are likely to operate as usual, as their employees are not part of the unions taking part in the strike.
