Nationwide Bank Strike Grinds Cash Transactions & Cheque Clearance to a Halt for 4th Day
For the fourth consecutive day, routine banking services across India have been severely disrupted due to a nationwide bank strike. Called by the United Forum of Bank Unions (UFBU), the strike has halted cash deposits, withdrawals, and cheque clearance in public sector banks, compounding the inconvenience caused by the weekend and Republic Day holidays.
The strike, which saw employees protesting in major financial hubs like Mumbai and New Delhi, centers on a long-pending demand: the formal implementation of a five-day workweek.
Why Banks Are on Strike: The Five-Day Week Demand
The core of the dispute dates back to an agreement in March 2024 between bank unions and the Indian Banks' Association (IBA). Unions agreed to work an extra 40 minutes daily in exchange for all Saturdays being declared holidays. While currently banks are shut on the second and fourth Saturdays, the formal government notification to make this a permanent five-day workweek has stalled.
"An agreement was reached, but the notification hasn't materialized. This strike is about honoring that commitment and ensuring a better work-life balance for employees," a UFBU representative stated.
Direct Impact on Your Daily Banking
The timing of the nationwide bank strike means many customers have faced limited access to essential services since Saturday. Here’s what is affected:
Cash Transactions & Branch Services: Over-the-counter cash deposits and withdrawals, new cheque book requests, KYC updates, and loan processing are halted.
Cheque Clearance Delayed: The clearance of cheques, which relies heavily on public sector bank operations, is disrupted. Expect delays of 2-3 days for cheques to be processed.
Potential ATM Cash-Outs: Following three previous non-working days, ATMs, particularly in smaller towns, may run dry. Replenishment is affected by the strike.
Loan Approvals & NOCs: Any urgent banking paperwork requiring branch approval will be postponed until operations resume.
What Services Are Still Working? Your Digital Lifeline
Amid the branch shutdowns, digital banking remains a reliable alternative. Experts urge customers to switch to online channels to minimize disruption.
"While physical branches are closed, the digital infrastructure of banks is fully operational. This is the moment to utilize UPI and mobile banking," advised Priya Sharma, a Mumbai-based financial analyst.
Here’s what you can still do:
UPI & Digital Wallets: Apps like Google Pay, PhonePe, Paytm, and BHIM UPI are functioning normally for payments and transfers.
Internet & Mobile Banking: All online transactions—including NEFT, RTGS, and IMPS fund transfers, bill payments, and balance enquiries—are unaffected.
Private Banks: Major private banks such as HDFC, ICICI, and Axis Bank are operating as usual, as they are not part of the UFBU.
ATMs (If Stocked): ATMs themselves are not shut down. Withdrawals can be made if the machine has been stocked prior to the strike period.
Looking Ahead
With no immediate resolution announced, the nationwide bank strike underscores the growing tension between traditional banking structures and employee demands for modernization. For the common citizen, it serves as a potent reminder of the resilience and necessity of digital payment ecosystems in keeping the economy moving, even when physical doors are closed.
Customers are advised to plan their cash needs, postpone cheque-based payments where possible, and leverage digital tools until the strike is called off and normal branch operations resume.
