Nation-wide strike to impact banking services on January 8

Central trade unions have called for a strike on January 8 (Wednesday) which will supposedly hit the Banking services across the country. The nation-wide strike is set to witness lakhs of people from across the country in participation. Several bank unions are also slated to join the all-India general strike which has been called to protest against the Narendra Modi government's recent banking reforms and labour policies. The unions are also demanding a salary hike and other benefits from the Central government through their strike.

The State Bank of India has issued a release to inform its customers and said the strike is set to have minimal impact on its operations. According to State Bank of India, very few SBI employees will be a part of the six bank unions participating in the strike.

Meanwhile, Bank of Baroda fears that its operations could be hit. If reports are to be believed, several banks will see a disruption in services amid the strike. Branches of various banks are also likely to be shut due to the strike, as per the order by the bank unions.

According to a circular by the Indian Bank's Association, the unions that would be a part of the strike are - The All India Bank Employees' Association (AIBEA), All India Bank Officers Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC) and Bank Karmachari Sena Mahasangh (BKSM).

ATM services at some places are also likely to be impacted. However, net banking is expected to function normally as NEFT online transfers are now available 24x7. Syndicate Bank has said it is taking requisite measures for the smooth functioning of its branches on the day of the strike.

The unions are basically protesting against the Central government's economic policies and recent banking reforms. Some of the other demands put forward by the unions include a raise in the minimum wage to Rs 21,000-Rs 24,000 per month; stopping the privatisation of public sector undertakings; and repealing the controversial Citizenship Amendment Act (CAA), National Register of Citizens (NRC) and National Population Register (NPR).