Nationwide bank strike today: Will SBI, PNB, BoB remain closed on 27 January? What services will be affected?

Bank strike today: Banking operations of public sector banks across India including SBI and PNB are expected to be disrupted on Tuesday, 27 January, as employees’ union United Forum of Bank Unions (UFBU) decided to go ahead with its plan to observe a nationwide strike today.

With banks already observing bank holidays on 24, 25 and 26 January due to fourth Saturday, Sunday, and Republic Day, this is the fourth consecutive day that some of the branches will remain closed — adding to the problems of customers.

Bank holiday on 27 January: Which banks will remain closed?

While not technically a bank holiday, the nationwide bank strike called by UFBU, an umbrella body of nine unions representing officers and employees, is expected to hit public sector banks.

This means banks like the State Bank of India (SBI), Punjab National Bank (PNB), Union Bank, Canara Bank and Bank of Baroda among others will remain closed.

Customers who are planning to do bank work today are advised to contact their nearest branch to see if there is a bank holiday on 27 January due to the strike.

Several public sector lenders, including banking giant SBI have informed stock exchanges about the potential impact.

“We advise that while the bank has made necessary arrangements to ensure normal functioning in its branches and offices on the day of strike, it is likely that work in the bank may be impacted by the strike,” SBI said in a regulatory filing on Friday.

Which banks will stay open?

Private sector banks like HDFC Bank, ICICI Bank, IDFC First Bank and Axis Bank are expected to function normally. This is because their employees are largely not a part of the unions that are going on the nationwide bank strike today.

What services will be impacted and not impacted?

Services such as cash deposits, withdrawals, cheque clearances, and administrative work are expected to be hit at branches of SBI, PNB and other public sector banks.

Services that require customers to be physically present at the branches are likely to be disrupted. ATM cash availability could face localised issues due to logistical delays.

Digital banking services, including UPI and internet banking, will continue to function.

Why is there a bank holiday today?

While it is not technically a bank holiday, the nationwide bank strike today is set to happen as the employees’ unions demands an immediate implementation of a five-day work week.

It comes after a conciliation meeting on 23 January with the chief labour commissioner failed to yield a positive outcome.

The unions are demanding the declaration of all Saturdays as holidays, a key point that was reportedly agreed upon during the 12th Bipartite Settlement signed with the Indian Banks’ Association (IBA) in March 2024 but is awaiting government notification.

Currently, banks remain open on the first, third, and fifth Saturdays of every month.