25 Cr Employees On Strike On January 8th: Banking Services, ATMs Will Be Impacted In 2020’s First Major Strike

One of the biggest strikes will impact India on January 8th, as more than 25 crore employees will stop working.

As per initial reports, banking services, ATM services, and even netbanking can be impacted, for millions of customers.

Here is everything you wanted to know..

Mega Banking Strike On January 8th

The 5 biggest bank employee unions: AIBEA, AIBOA, BEFI, INBEF and INBOC have declared a mega banking strike. More than a million or 10 lakh bank employees are part of these bank employee unions, and they will stop working on January 8th.

Besides, 10 of the biggest trade unions: INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF and UTUC, besides employees from LIC and some other Govt. backed institutions have also declared support for this mega strike on January 8th.

Overall, it is expected that more than 25 crore employees from banks, financial institutions, organized and unorganized sectors will be on strike, on January 8th.

What Are The Employees Demanding

The main motive for bank employees to strike is the large scale bank mergers, which have been announced by the Govt. in the last 8-10 months.

More than 25 PSUs or Public Sector banks will be merged, which will cut jobs, and reduce the number of bank branches, all over the country. They are also demanding that no bank branch should be closed down due to the mergers, and no jobs should be lost.

Besides, employees from other sectors are demanding a minimum pay of Rs 21,000 per month, wage assurance, job security, no privatization and other demands.

Banking Services, ATM Services Can Be Impacted

Due to this mega strike, it is being expected that banking services will be severely paralysed, and impacted.

Infact, The All India Bank Officers Confederation (AIBOC) has issued a circular, stating that no officer should accept any key or job responsibility on January 8th, and have asked their members not to work.

Bank of Baroda has feared that this banking strike can impact thousands of branches, and in some instances, even ATM services can disrupt.

We will keep you updated, as more details come in.