Banking Services to Remain Shut for 96 Hours, Complete Your Important Work Before This Date

Bank Strike: Banking services are set to come to a complete standstill at the end of January. Due to holidays and a nationwide strike on January 27, banks will remain "locked" for 96 consecutive hours. Everything from check clearing to cash withdrawals could be affected, so complete your essential banking tasks in advance.

Bank Strike: The last days of January are going to be difficult for the common man. The largest organization of bank employees, the United Forum of Bank Unions (UFBU), has declared an all-out war over its demands. If the union's proposed strike goes ahead, work in government and some private banks will come to a complete halt. The biggest challenge is that the strike date has been chosen in such a way that banks will remain closed for four consecutive days due to holidays.

The 'Major Crisis' of a Strike Amidst Holidays

In the last week of January, the calendar seems to be working against banking services. Banks will be closed on January 24 due to it being the fourth Saturday of the month, followed immediately by a Sunday holiday on January 25. Monday, January 26, is a national holiday for Republic Day. Immediately after these three consecutive holidays, the union announced a nationwide strike on January 27. This means that customers may have to wait until Wednesday or Friday for any bank-related work.

Why are Employees Insisting on 5-Day Banking?

The root of this entire dispute is the demand for a five-day work week. Bank employees want to be given a holiday every Saturday, just like other government offices. The employees argue that this system is already in place in the Reserve Bank of India (RBI) and the insurance sector (LIC), so why the delay in regular banks? Justifying their demand, the unions have proposed that in exchange for the Saturday holiday, they will work an extra 40 minutes every working day so that customers do not face any inconvenience. Government's Silence and Employees' Outrage

Employee organizations say that an agreement on this matter was reached with the Indian Banks Association (IBA) in March 2024, but the government has not yet issued any official notification. Angered by this inaction, the United Forum of Bank Unions (UFBU), an organization of 9 major unions, has chosen the path of protest. This demand is also receiving tremendous support on social media, where millions of people are raising their voices through a digital campaign.

Impact on the General Public

The continuous four-day bank closure will not only disrupt services like check clearing and cash deposits but may also lead to a shortage of cash in ATMs. For traders, conducting transactions and obtaining necessary drafts could become a major challenge. Experts advise that all essential banking-related tasks should be completed by January 23rd.

Disclaimer: India Employment News does not provide any recommendations for buying or selling in the stock market. We publish market-related analyses based on information from market experts and brokerage firms. However, please make market-related decisions only after consulting certified experts.