Mumbai, Feb 11: Major bank unions across India have declared a nationwide strike for Thursday, February 12, raising alarms over potential disruptions to banking services. Bank of Baroda confirmed the development in a stock exchange filing on Wednesday, warning customers of possible interruptions.
The strike is spearheaded by key unions including the All India Bank Employees Association (AIBEA), All India Bank Officers Association (AIBOA), and Bank Employees Federation of India (BEFI). These groups have united to protest against several unresolved issues, primarily the implementation of four new labor codes that they claim impose undue burdens on workers.
Bank of Baroda stated it is taking all necessary measures to ensure smooth operations at its branches and offices. However, in the event of the strike, normal functioning could be hampered. Other public sector giants like State Bank of India (SBI) and Punjab National Bank (PNB) are also likely to see employee participation, amplifying the impact.
Private banks such as HDFC, ICICI, Axis, RBL, and IDFC First are expected to operate normally, as the action is limited to public sector bank staff. The Reserve Bank of India has not announced any holiday for February 12.
This follows a similar strike call on January 27 by the United Forum of Bank Unions (UFBU), a coalition of nine unions representing public sector bank employees. That action stemmed from failed negotiations with the Chief Labour Commissioner on January 23 over demands for a five-day workweek.
Customers are advised to complete urgent transactions in advance. The banking sector, already navigating economic challenges, now faces another test of resilience as unions push for better labor protections amid evolving regulations.