The strike was called by the United Forum of Bank Unions (UFBU), which is an umbrella body of nine unions in the banking sector. These unions are AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO. The body chairman is K K Nair.
Services of private lenders like HDFC Bank, ICICI, Axis Bank, Kotak Mahindra Bank are expected to stay unaffected but may have a slight delay in cheque clearances.
Most of the public sector banks, including State Bank of India, Punjab National Bank and Bank of Baroda, have informed the customers well in advance that the functioning will be affected in all the branches.
Strike was called after reconciliation talks had failed
The conciliation meeting with the Chief Labour Commissioner on February 21 had failed as the bank management body (Indian Banks Association) did not agree to demands by the unions, All India Bank Employees' Association General Secretary C H Venkatachalam said in a statement.