Nationwide Bank Strike Today, January 27: Which Banks Will remain Closed? What Services Will Be Affected?

New Delhi: Banking operations at public sector banks across India are likely to face disruptions on Tuesday (January 27), as the United Forum of Bank Unions (UFBU) has decided to go ahead with its planned strike for its long-pending demand of a five-day work week. The UFBU is an umbrella organisation of nine unions of officers and employees

The major banks which will remain closed include the State Bank of India (SBI) and the Punjab National Bank (PNB). Notably, the banks had already observed holidays on January 24, 25 and 26 due to second Saturday, Sunday and Republic Day.

In response to the strike notice served by the UFBU, the Chief Labour Commissioner held a conciliation meeting on Wednesday and Thursday, the forum said in a statement.

The official call for the nationwide strike was made by the forum after a conciliation meeting with the Chief Labour Commissioner on January 23 failed to produce a resolution, reported News18.

Services Which Will Remain Disrupted:

Services like cash deposits and cash withdrawals will remain shut. Cheque clearance and other routine operations at public sector banks will be disrupted.

Which Banks Will Remain Shut?

Apart from the SBI and the PNB, other leading public sector banks which will remain closed are Union Bank, Canara Bank and Bank of Baroda.

Several public sector banks reportedly have already informed the stock exchanges about the impact of the nationwide strike.

“We advise that 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,” SBI said in a regulatory filing on Friday, as quoted by Mint.

Meanwhile, private sector banks, including HDFC, ICICI and Kotak, Axis and IDFC First, will work normally.