Bharat Bandh 2020 on January 8: How And Why Banking Services Will Be Affected on Wednesday
Bank unions are joining the Bharat Bandh on January 8, not just in solidarity with their counterparts in other sectors but also to protest against banking reforms and against the merger of public sector banks. In addition to this, few of their other demands are-pay hike and a uniform 5-day week.
New Delhi, January 7: Services at several banks could be affected on Wednesday as six bank unions have decided to take part in the Bharat Bandh. So customers can face problems as banking services like ATMs and branch services will be affected due to the strike. However, those using NEFT and IIMPS services won't be hassled by the bandh.
According to a Live Mint report, the number of people participating in the strike from SBI is very few, so the bank expects to have a minimum effect on banking operations. Bank of Baroda on the other hand fears that banking operations will be affected to a considerable extent due to the strike. Bharat Bandh 2020 on January 8: Why Are Trade Unions Carrying Out Nationwide Strike on Wednesday? What is The Protest Against? Here Are The Answers.
Reportedly, Bank employees, including central, cooperative, regional rural and the Life Insurance Corporation of India, belonging to bank unions have decided to join the strike.
The Reason Why Bank Workers Protesting Are:
Bank unions are joining the Bharat Bandh on January 8, not just in solidarity with their counterparts in other sectors but also to protest against banking reforms and against the merger of public sector banks. In addition to this, few of their other demands are-pay hike and a uniform 5-day week.
According to a PTI report, most lenders have already informed the stock exchanges about the January 8 Bharat Bandh and its possible impact on banking services. Other bank employee associations, including AIBEA, All India Bank Officers’ Association (AIBOA), BEFI, INBEF, INBOC and Bank Karmachari Sena Mahasangh (BKSM), have expressed their willingness to take part in the strike.
Bharat Bandh 2020 On January 8: From Trains To Banks, Which Services Will Be Affected Across India?
Banking Services That May Be Affected:
Banking services like deposit and withdrawal, cheque clearing and instrument issuance are expected to be impacted due to the strike. However, services at private sector banks are unlikely to be impacted. Online money transfer options like NEFT and IIMPS will also not be affected due to the strike.
People can, therefore, withdraw cash today from ATMs and keep it in case of an emergency. More than 25 crore people are likely to take part in an all-India strike on Wednesday to protest against the 'anti-people' government policies.
(The above story first appeared on LatestLY on Jan 07, 2020 03:44 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).