Operations of public sector banks are expected to be hit beginning Friday as unions will go on a two-day nationwide strike following the failure of wage revision talks with managements.
However, private sector lenders like ICICI Bank and HDFC Bank would be operational. Many banks, including SBI, have informed customers that operations may be impacted to some extent due to the strike. Cash deposit, withdrawal, cheque clearances, instrument issuance and loan disbursement operations would be affected.
With this strike, banks would be closed for three days including Sunday. Banks will open only on Monday, February 3. The three-day break in banking operations could also lead to drying up of ATMs.
The strike will coincide with the beginning of the Budget session of parliament and presentation of the union Budget 2020-21 (on February 1). The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, including All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW).
Earlier this week, a meeting with the Chief Labour Commissioner remained inconclusive, AIBOC President Sunil Kumar said.
The wage revision for employees of public sector banks is pending since November 2017.
