Nationwide Bank Strike: Why Unions Are Protesting and What It Means for Customers | 10 Key Points

What’s happening:
Public sector banks across India are witnessing widespread disruption as bank unions launched a nationwide strike, impacting branch-level operations on Tuesday.

Why it matters now:
The strike comes amid an extended holiday stretch, effectively affecting physical banking services for nearly five consecutive days and raising concerns for customers who rely on in-branch transactions.

10 things to know about the nationwide bank strike

1. Who has called the strike?
The strike has been called by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions representing officers and employees of public sector banks.

2. What is the main demand?
The core demand is the immediate implementation of a five-day work week, making all Saturdays holidays for public sector banks.

3. What triggered the strike now?
Union leaders say conciliation meetings with the Chief Labour Commissioner on January 22 and 23 failed to yield any assurance from the government on their demands.

4. What was promised earlier?
Unions claim that the five-day work week was agreed upon during the 12th Bipartite Settlement with the Indian Banks’ Association (IBA) in March 2024, but the formal government notification is still pending.

5. Which banks are affected?
Branch services at public sector banks such as SBI, PNB, Bank of Baroda, and others are impacted.

6. Are private banks on strike?
No. Private sector banks like HDFC Bank, ICICI Bank and Axis Bank are largely unaffected, as their employees are not part of UFBU.

7. What services will be disrupted?
Cash deposits and withdrawals, cheque clearing, account-related services, and administrative work at branches may face delays.

8. What services will continue normally?
Digital banking services including UPI, mobile banking, internet banking and online transactions remain operational. ATMs are expected to function, though some areas may face cash replenishment delays.

9. What do unions say about customer inconvenience?
Unions insist the strike is not against customers. “A rested banker serves the nation better,” union leaders said, stressing the need for a humane and sustainable banking system.

10. What is the government doing?
The Department of Financial Services held an urgent meeting with SBI officials, heads of nationalised banks and the IBA to ensure essential services, government transactions and ATM operations continue smoothly.