Nationwide bank strike today: Will SBI, PNB, BoB remain closed on 27 January? What services will be affected?
The nationwide bank strike on 27 January, called by UFBU, an umbrella body of nine unions representing officers and employees, is expected to hit public sector banks.
Bank strike today: Banking operations of public sector banks across India, including SBI and PNB, are expected to be disrupted on Tuesday, 27 January, as the United Forum of Bank Unions (UFBU) goes ahead with its plan to observe a nationwide strike.
Banks already observed holidays on 24, 25 and 26 January for the fourth Saturday, Sunday and Republic Day. With today's strike, some branches will remain closed for the fourth consecutive day, adding to customer inconvenience.
Bank holiday on 27 January: Which banks will remain closed?
Although not technically a bank holiday, the nationwide bank strike called by UFBU, an umbrella body of nine unions representing officers and employees, is expected to hit services at public sector banks.
State Bank of India (SBI), Punjab National Bank (PNB), Union Bank, Canara Bank and Bank of Baroda are among those likely to see their operations disrupted.
Customers planning transactions should contact their nearest branch to check whether there will be a bank holiday on 27 January due to the strike.
Several public-sector lenders, including banking giant SBI, have informed stock exchanges about the potential impact.
“We advise that while the bank has made necessary arrangements to ensure normal functioning in its branches and offices on the day of strike, it is likely that work in the bank may be impacted by the strike,” SBI said in a regulatory filing on Friday.
Which banks will not be affected?
Private sector banks such as HDFC Bank, ICICI Bank, IDFC First Bank and Axis Bank are expected to function normally, as their employees are not part of the unions participating in today's nationwide bank strike.
Which services will be impacted and which will not?
Services requiring physical presence, cash deposits, withdrawals, cheque clearances, and administrative work are expected to be hit at branches of SBI, PNB and other public sector banks.
ATM cash availability may face localised issues due to logistical delays.
However, digital banking services, including UPI and internet banking, will continue without interruption.
- Public sector banks, including SBI and PNB, will likely be closed on January 27 due to the nationwide strike.
- Digital banking services will remain operational, but physical banking services will face disruptions.
- The strike is part of a larger demand for a five-day work week and the declaration of Saturdays as holidays.
Why is there a bank strike today?
The nationwide bank strike today comes amid demands from employees' unions for the immediate implementation of a five-day work week.
The unions announced the strike after a conciliation meeting on 23 January with the chief labour commissioner failed to yield a positive outcome.
The unions are demanding the declaration of all Saturdays as holidays, a key point that was reportedly agreed upon during the 12th Bipartite Settlement signed with the Indian Banks' Association (IBA) in March 2024, but is awaiting government notification.
Currently, banks remain open on the first, third, and fifth Saturdays of every month.
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