Banking services at several public-sector lenders are expected to be disrupted today, Tuesday, January 27, as the United Forum of Bank Unions (UFBU) proceeds
with its nationwide strike call. The protest comes after banks were already shut for three consecutive days due to the fourth Saturday, Sunday, and Republic Day, meaning some branches may remain inaccessible for the fourth day in a row. The strike is likely to create an inconvenience for customers who were planning branch visits for essential transactions, particularly at state-run banks. Which Banks Are Likely To Be Affected Today? While January 27 is not officially declared a bank holiday, the UFBU-led strike is expected to significantly impact operations at public sector banks. The UFBU represents nine major unions of bank officers and employees, and their participation could slow or halt branch-level services. Major lenders such as State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India, Canara Bank, and Bank of Baroda are among those where disruptions are anticipated. Customers are advised to check with their local branch before planning visits, as service availability may vary by location. Several public sector banks, including SBI, have already flagged the potential impact on stock exchanges. “We advise that while the bank has made necessary arrangements to ensure normal functioning in its branches and offices on the day of the strike, work in the bank may likely be impacted by the strike,” SBI said in a regulatory filing on Friday. Private Banks And Digital Services Private sector lenders such as HDFC Bank, ICICI Bank, Axis Bank, and IDFC First Bank are expected to function as usual, as their employees are not part of the unions participating in the strike. In addition, digital banking services are not expected to be affected. Customers can continue using UPI, mobile banking apps, internet banking, and card-based transactions without interruption. However, ATM cash availability could see localised issues if replenishment schedules are delayed. Services Likely To Be Hit At Branches Transactions that require physical presence at bank branches are most likely to be impacted. These include cash deposits and withdrawals, cheque clearances, and routine administrative work. Customers with urgent needs involving branch visits may face delays, especially at SBI, PNB, and other public sector lenders. Why Are Bank Unions On Strike? The nationwide strike stems from long-standing demands by bank employees’ unions, chief among them being the immediate implementation of a five-day work week. The unions are also pressing for all Saturdays to be declared holidays, a proposal that was reportedly agreed upon during the 12th Bipartite Settlement signed with the Indian Banks’ Association in March 2024 but is still awaiting government notification. The strike was announced after a conciliation meeting with the chief labour commissioner on January 23 failed to produce a resolution. At present, banks operate on the first, third, and fifth Saturdays of each month, a system the unions want revised.
