Nationwide bank strike today: Check affected banks and services
What's the story
Public sector banking services are likely to be disrupted today due to a nationwide strike called by bank employee unions. The unions are demanding the immediate implementation of a five-day workweek, their long-standing demand. If the strike goes as planned, it would affect public sector banks heavily as customers may not be able to avail services for the third consecutive day. The banks remained shut on Sunday, January 25 and Monday, January 26, on the occasion of Republic Day.
Bank operations
SBI acknowledges possible disruption due to strike
The State Bank of India (SBI) has also acknowledged the possibility of disruption in its services on January 27. "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," an official statement from SBI read.
Strike details
UFBU's stance and private sector bank operations
The United Forum of Bank Unions (UFBU), an umbrella body of nine major bank unions in India, has decided to go ahead with the strike after unsuccessful meetings with the chief labor commissioner. The demand for a five-day workweek was first raised during a wage revision settlement in March 2024. Private sector banks such as ICICI Bank, HDFC Bank, Kotak Mahindra Bank, and Axis Bank are likely to remain unaffected by this strike.
Impact
These services are likely impacted by the strike
Public sector lenders like the SBI, Punjab National Bank, Bank of Baroda, Bank of India and other government-owned banks are expected to see limited or suspended branch services. In-person services such as cash deposits/withdrawals, check clearances, demand drafts and counter services are likely to be disrupted. Digital and self-service options such as UPI, IMPS, NEFT, RTGS, mobile banking and ATMs are expected to continue operating, though ATMs may face local cash shortages in some areas due to logistical issues.