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Bank strike on January 8: ATMs, branch services likely to take a hit

Bank strike: The State Bank of India (SBI) has said that it expects a minimal impact of the bank strike on its operations, whereas Bank of Baroda fears the strike will affect its functioning

twitter-logo BusinessToday.In        Last Updated: January 6, 2020  | 16:36 IST
Bank strike on January 8: ATMs, branch services likely to take a hit
Bank strike: Several bank branches and ATM services could take a hit as PSB employee unions will protest against the Modi government's recent banking reforms and labour policies

Banking operations across the country are likely to get affected on Wednesday as employees of many public sector banks (PSBs) will go on an all-India general strike or 'Bharat Bandh' on January 8.

Several bank branches and ATM services could take a hit as PSB employee unions will protest against the Modi government's recent banking reforms and labour policies.

Meanwhile, the State Bank of India (SBI) has said that it expects a minimal impact of the bank strike on its operations.

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

"The membership of our bank employees in unions participating in strike is very few, so the impact of strike on Banks operation will be minimal," SBI said in a stock exchange filing.

Whereas, Bank of Baroda fears the strike will affect its functioning. The bank said that it is ensuring required measures to ensure smooth functioning of its branches.

"The Bank is taking necessary steps for smooth functioning of Bank's Branches/Offices on the day of strike, in the event the strike materialises, the functioning of the branches/offices may be affected/paralysed," the bank said in a separate regulatory filing.

Also Read:Banking services to be hit today as 2 employee unions plan strikes across India

Canara Bank also in its stock exchange filing said, "The Bank is taking necessary steps for the 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."

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.

Also Read: Karur Vysya Bank MD & CEO P R Seshadri resigns; stock slips nearly 5%

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