Bank strike: SBI warns customers, says branches, ATM services may be impacted

New Delhi, Jan 24: Bank employees' unions have called for a two-day nationwide bank strike on January 31 and February 1. As a result of this strike, normal banking services and ATMs are likely to be get affected. Services like net banking are unlikely to get affected. The timing of this bank strike is also important because it coincides with Budget day 2020.

This would be the second bank strike this month, after the first one was observed along with Bharat Bandh on January 8.

The country's largest lender SBI also said that its operations may be impacted to some extent due to the proposed two-day nationwide strike beginning January 31.

The bank has, however, made all arrangements to ensure normal functioning in its branches and offices, the State Bank of India (SBI) said in a filing to the BSE.

"While Bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our Bank may be impacted to some extent by the strike," the filing said.

Bank strike on January 31 and February 1 was called after talks over wage revision failed to make headway with the Indian Banks' Association (IBA).

"We have been advised by IBA that United Forum of Bank Unions (UFBU) which constitutes 9 major unions...has given a call for an all India strike by Bank employees on 31st January and 1st February 2020," the filing said.

The UFBU constitutes All India Bank Employees' Association, All India Bank Officers' Confederation, National Confederation of Bank Employees, All India Bank Officers' Association, Bank Employees Federation of India, Indian National Bank Employees Federation, Indian National Bank Officers' Congress, National Organisation Of Bank Workers and National Organisation of Bank Officers.

What to expect?

The strike would mainly impact banking services availed at the branches like cash deposits and cash withdrawal, cheque clearances and issuance of demand drafts, among others. Hence, bank customers should make sure that they deposit/withdraw cash for any urgent needs by 30 January.

Also, before issuing or receiving cheques, keep in mind that the two-day break may result in them taking considerably longer time to get cleared.

Inter/intra-bank money transfer transactions initiated through branches will also be affected. Hence, customers are advised to use internet banking and phone banking for such services.

Customers can transfer or receive money online through RTGS, NEFT, IMPS and UPI transfers.

So keep your credit/debit cards handy making online payments for shopping or bill payments. Alternatively, customers can also use digital wallets like Paytm, Google Pay, Mobikwik, PhonePe and others.

It should be noted that the January 8 bank strike was successful in several parts of the country as scores of bank employees abstained from work.