Nationwide bank strike today:Cash transactions and cheque clearance halted as banks remain closed for fourth day, check which banks are affected

Across the country, employees of all government banks will be on strike today. According to PTI, the United Forum of Bank Unions (UFBU) has announced a strike today. The union is demanding 5-day working for employees. Due to the strike, work like cash transactions and check clearance will not be possible in banks. After the holidays on the fourth Saturday of the month (January 23), Sunday (January 25), and Republic Day (January 26), this will be the fourth consecutive day when the functioning of government banks will be affected. However, banks have not made an official announcement to keep their branches closed. Apart from this, work in private banks is running normally. Private banks are not part of UFBU. Why are employees striking? The main root of the dispute between bank unions and the government is Saturday holidays. Bank employees have been demanding the implementation of a ‘5-day work week’ (working only 5 days a week) for a long time. During the 12th bilateral agreement between the Indian Banks’ Association (IBA) and the unions in March 2024, an agreement was reached to declare all Saturdays as holidays. However, despite the agreement, its government notification has not yet been issued. The unions’ argument for 5-day working is that they are demanding a balanced work system. In return, they are ready to work an additional 40 minutes every day. Currently, banks remain closed only on the second and fourth Saturdays of the month. The union wants the government to issue its official notification immediately. Also read: Mercedes, BMW cars may become cheaper in India

What will be the impact of the strike on the common man? Which services will remain active?