Bharat bandh likely to affect banking, ATM services on 8 January; online services may function normally

Banking and ATM services across the country are expected to be affected on 8 January following the country-wide strike call given by 10 central trade unions last week.

Several bank unions will take part in the general strike or Bharat bandh which has been called to protest against the Narendra Modi government’s recent banking reforms. The unions are also demanding salary hike and other benefits.

The banking unions including 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) will also join the  strike on 8 January, said a report in India TV citing Indian Bank’s Association statement.

Apart from banking services, ATM services are also expected to be affected during the one-day Bharat bandh, said the report.

However, the strike may not affect the net banking facility as NEFT services are available round the clock now.

In August last year, the Reserve Bank of India (RBI) had decided to allow round the clock fund transfers through NEFT from December 2019 in order to promote digital transactions .

Meanwhile, in order to avert inconvenience to the people, several banks have taken steps for the smooth smooth functioning of their branches on 8 January.

Country’s leading lender State Bank of India (SBI) said the strike is set to have minimal impact on its operations adding very few SBI employees will be a part of the six bank unions participating in the strike.

However, Bank of Baroda expressed concerns that the strike could hit its operations.

Bank of Baroda said it taking necessary steps for the normal functioning on 8 January but if the strike gains strength, functioning of its branches may be affected, said a report in Mint.

Like Bank of Baroda, many other banks said that there could be disruptions in services amid the strike, the report said.

On Saturday, state-owned Syndicate Bank said it was taking necessary steps for the smooth functioning of its branches on 8 January.

In a BSE filing, the lender said it received notice from the AIBEA, BEFI, INBEF and INBOC on the proposed one-day strike.

“Bank has received notice…on the proposed strike on 8 January 2020,” Syndicate Bank said.