🚨 BANK STRIKE CHAOS: All Services Halt Jan 27 – ATMs Dry, Cheques Bounce, Loans Delayed Nationwide
India’s banking sector braces for a complete shutdown on Tuesday, January 27, as United Forum of Bank Unions (UFBU) calls an all-India strike protesting privatization, staff shortages, and wage disparities, crippling branches, ATMs, digital banking support, cheque clearances, and loan processing across PSBs and private banks.
Strike Call: Unions vs Government
UFBU, uniting 12 unions including AIBOC and AIBEA, demands reversal of bank privatization, 5-day banking week, and 17.5% wage hike. Government cites reforms for efficiency amid rising NPAs.
Strike coincides with post-Republic Day weekend, amplifying weekend cash crunch risks for public.
What Services Get Hit
All 1.2 lakh+ PSB branches close; ATMs may run dry by evening; NEFT/RTGS/IMPS processing delayed; cheque collection halts (no credits Jan 27-28); no new loans/sanctions; UPI apps functional but grievance redressal offline.
RBI mandates 100% cash reserves in ATMs, but unions warn of shortages post-Republic Day withdrawals.
Customer Advisory & Prep Tips
Stock cash/emergency funds; complete urgent transactions Jan 26; use UPI/wallets for small payments; avoid cheques; salary credits may delay to Jan 28; monitor bank apps for updates.
Impact Across Sectors
- Individuals: Pensioners, salary earners face delays; weddings, emergencies hit by cash crunch.
- Business: Trade stalls without cheques/RTGS; MSMEs loan renewals postponed.
- J&K Specific: Regional banks join; ATMs in Srinagar/Jammu may deplete faster amid snow disruptions.
- Digital Backup: NPCI ensures UPI continuity; PhonePe/Paytm advised for essentials.
Unions’ Demands & Govt Response
Key asks: Scrap 5 new bank mergers, fill 3 lakh vacancies, scrap NPS for old pension scheme. Centre calls strike “politically motivated,” urges minimal disruption.
