Bank strike on Jan 8: SBI predicts minimal impact; Syndicate Bank assures steps for smooth operation

Operations across bank branches and ATMs are expected to take a hit on January 8 as major bank employee unions have called for a nationwide strike against the labour policies of the government. In light of the upcoming work stoppage, banks have assured that necessary steps will be taken to ensure smooth banking operations.

Syndicate Bank has said it is taking requisite measures for smooth functioning of its branches on the day of the strike. "Bank has received notice served by... on the proposed strike on January 8, 2020," the public-sector lender said in a regulatory filing on Saturday. "The bank is taking necessary steps for smooth functioning of bank's branches/offices on the day of proposed strike. However, in the event the strike materialises the functioning of the branches/offices may be impacted by the strike."

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Meanwhile, State Bank of India, the biggest lender in India, has said that its operations will not be affected as much by the strike. "The membership of our bank employees in unions participating in the strike is very few, so the impact of strike on bank's operation will be minimal," SBI had told the stock exchanges in a filing on Friday.

Banks have been informed by Indian Banks' Association (IBA) that bank unions including All India Bank Employees Association (AIBEA), All India Bank Officers' Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees' Federation (INBEF), Indian National Bank Officers Congress (INBOC) and Bank Karmachari Sena Mahasangh (BKSM) will go on a pan-India general strike on January 8. Ten central trade unions have expressed support towards the strike.

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