Banking services across the country will face disruption today as public sector bank employees observe a nationwide strike. The United Forum of Bank Unions has called a strike to demand a five-day workweek. With banks already closed on Sunday and Republic Day on Monday, customers will face a third consecutive day without public sector bank services.
Bank unions decided to go ahead with the strike after talks with the Chief Labour Commissioner failed on January 23. Union leaders said discussions did not yield any clear assurances from the authorities, leaving them with no option but to intensify their protest.
Public Banks Affected, Private Banks to Operate Normally
The strike will impact major public sector banks, including State Bank of India, Punjab National Bank, and Bank of Baroda. Services such as cash deposits, withdrawals, cheque clearance, and branch-level transactions will remain unavailable during the strike.
However, private sector banks such as HDFC Bank, ICICI Bank, and Axis Bank will function as usual. Employees of private banks are not participating in the strike, which will help limit the overall disruption to essential banking services.
Digital services like UPI transactions, internet banking, and mobile banking are expected to function without major issues. Still, customers in some areas may face cash shortages at ATMs if the strike continues longer than expected.
Several public sector banks have already informed stock exchanges that the strike could affect their operations. Bank employee unions are demanding that all Saturdays be declared holidays. Currently, banks operate on the first, third, and fifth Saturdays of every month.
Although the Indian Banks’ Association has reached an understanding with employee unions on this issue, the government has not yet issued an official notification. In view of the strike, banks have advised customers to rely on digital payment methods and plan transactions.
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