All-India Bank Strike for 2 Days; Major Services Could be Affected

Over 10 lakh Public Sector Bank employees have called an All India Bank Strike for 2 days starting from January 31 (today).

As per NDTV report, the strike has been called by an umbrella of union banks regarding salary issues. The strike is orchestrated by the time when the Budget session of parliament begins. The central Finance Minister Nirmala Sitharaman will present her Second Union Budget on February 1 (Saturday).

The banks would not be operational until February 3 (Monday) and several banking services including ATM operations are expected to go down because of the nationwide strike. However private banks such as ICICI and HDFC will remain operational according to the reports.

Services such as cash deposit, withdrawal, cheque clearances, instrument issuance and loan disbursement operations could be affected in many banks including State Bank of India.

After a failed meeting with the Indian Bank Association, the United Forum of Bank Unions that represents nine trade unions has decided to go on a strike demanding 20 per cent of salary hike. Reportedly the salary revision for public sector bank employees is pending since November 2017.