Nationwide Bank Strike Announced
If you plan to visit a government bank today, February 27, you may face difficulties. The United Forum of Bank Unions (UFBU) has announced a countrywide strike.
Impacted Public Sector Banks
The strike is expected to disrupt operations in public sector banks (PSBs) across India. The affected banks include State Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank, Union Bank of India, Indian Bank, Bank of India, Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra, and Punjab & Sind Bank. Services such as cash deposits, withdrawals, cheque clearance, and administrative tasks may be severely affected.
Private Banks Likely to Remain Unaffected
Major private banks like HDFC Bank, ICICI Bank, and Axis Bank are likely to remain unaffected as their employees are not participating in the strike. Digital banking services, including UPI and internet banking, will continue to operate normally. However, cash availability in ATMs might be impacted in some areas due to logistical reasons.
The decision to strike was made by nine unions after a reconciliation meeting with the Chief Labour Commissioner on January 23 did not yield any results. Public sector banks had already closed on January 25 and 26 for other reasons, so this strike will result in three consecutive days of disruptions in branch-level services.
Several public sector banks, including SBI, have informed the stock exchanges about the possible impact of the strike. SBI stated that they have made arrangements to ensure normal operations in branches and offices, but operations may still be affected due to the strike.
The unions are demanding the declaration of all Saturdays as holidays. This demand is said to be agreed upon in the 12th bilateral agreement with the Indian Banks’ Association (IBA) in March 2024, but the government has yet to issue a notification. Currently, banks are open on the first, third, and fifth Saturdays of each month.
CH Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), mentioned to PTI that despite extensive discussions, they had not received any assurance regarding their demand, which compelled them to strike.
Meanwhile, Rupam Roy, General Secretary of the All India Bank Officers Confederation (AIBOC), stated that there was an agreement between the Indian Bank Association (IBA) and UFBU during the wage revision agreement in March 2024 to declare all Saturdays as holidays. He expressed disappointment at the government’s lack of response to their legitimate demand, even though they agreed to work an additional 40 minutes daily from Monday to Friday without impacting working hours.
EL Chandra Sekhar, General Secretary of the National Confederation of Bank Employees (NCBE), emphasized that the strike is not against customers but aims for a sustainable, humane, and efficient banking system. Working five days a week is not a luxury but an economic and humane necessity.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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