Banks to remain shut for four consecutive days this week; find all details here

Due to a combination of a two-day nationwide bank strike as well as bank holidays, lenders are expected to remain shut for four consecutive days this week from tomorrow, 16 December. Bank unions have called for a two-day strike starting December 16, to protest against the proposed privatisation of banks.

Earlier Union Finance Minister Nirmala Sitharaman asserted, in her 2021 speech during the Parliament session, that two public sector banks will be privatised during the current fiscal year, following which the United Forum of Bank Unions (UFBU) has called a two-day strike on 16 and 17 December.

“We have been advised by the Indian Banks’ Association (lBA) that United Forum of Bank Unions (UFBU) has served a Notice of Strike, informing that the members of the constituent Unions of UFBU viz. AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC propose to go on a nationwide Bank Strike," the SBI said in a regulatory filing . It further added that the strike would be organised on 16 and 17 December by the UFBU for the fulfillment of their demands.

Apart from the two-day bank strike, banks will remain shut in Shillong on 18 December as it marks the death anniversary of U SoSo Tham. On 19 December, lenders across the country will remain shut as it is a Sunday.

People should note that while online services and ATMs will continue to function during the period other banking services will be affected. Hence they are requested to plan their financial activities accordingly.