Public banking operations are likely to be disrupted on Tuesday after the bank employee union called for a nationwide bank strike for the immediate implementation of their long-standing demand for a five-day work week.
The nationwide strike was called by the United Forum of Bank Unions, an umbrella body of nine unions representing officers and employees.
The State Bank of India, Punjab National Bank, Union Bank, Canara Bank, and Bank of Baroda are among those likely to see operations disrupted.
Banks already observe holidays on 24, 25, and 26 January for the fourth Saturday, Sunday, and Republic Day. Tuesday will be the fourth consecutive day the banks will remain closed.
Private sector banks such as HDFC, ICICI Bank, IDFC First Bank, and Axis Bank are expected to function normally as their employees are not part of the union protesting.
Services which require physical presence, such as cash deposits, withdrawals, cheque clearances, and administrative work, are expected to be hit at public sector banks.
ATMs could face cash availability issues due to logistical delays.
Digital banking services, including UPI and internet banking, will continue to function.
SBI on January 23 had announced that it tried to ensure normal operation on January 27, but there is a possibility of operations still being hampered.
"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 January 23, PTI reported.
Rupam Roy, the general secretary of the All India Bank Officers' Confederation, said that the decision to declare all Saturdays holidays was agreed between the Indian Banks' Association and the UFBU during the wage revision settlement in March 2024. "It is unfortunate that the government is not responding to our genuine demand. There would be no loss of man-hours as we have agreed to work an extra 40 minutes daily from Monday to Friday," he said.