NEW DELHI :
As thousands of bank employees sit on a day-long bank strike tomorrow, January 8, India's largest lender, the State Bank of India (SBI), expects little impact on its operations. SBI has announced that since only a few of its employees are part of the striking unions, the impact on its operations will be minimal.
"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 has told stock exchanges.
Another public sector lender, Bank of Baroda, which is the third largest bank in India, fears that its operations could be affected. "The bank is taking necessary steps for smooth functioning of bank's branches / offices on the day of strike, in the event the strike materializes, the functioning of the branches / offices may be affected / paralyzed," Bank of Baroda said in a regulatory filing.
Syndicate Bank has issued a public notice asking customers to bear with them and make transactions before the bank strike on Janaury 8.
PSU banks are likely to be the amongst the most affected if the bank strike, called by a cluster of five bank employees and officers union and supported by another one, is successful.
All India Bank Employees Association (AIBEA), All India Bank Officers Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF) and Indian National Bank Officers Congress (INBOC) had jointly issued a circular last month on its decision to join the nationwide general strike or Bharat Bandh called by trade unions.
The bank unions are up in arms against the Narendra Modi government for its decision to merge several public sector banks and banking reforms.