The strike call was given by the All India Bank Employees Association and the All India Bank Officers' Association to all its affiliate members working at state-run, private and foreign banks.
The effect of the strike is expected to impact only some state-run banks.
Bankers are also protesting against the proposed acquisition of State Bank of Indore by the State Bank of India.
Federal Bank, in a statement to the Bombay Stock Exchange said, "The strike may affect normal functioning of its branches."
The members and units of the unions in Andhra Pradesh, have been kept out of the strike because of law and order problems arising due to the proposed bifurcation of the state.