Bank Unions Set For Nationwide Strike On July 9, Service Disruptions Likely

Banking services across India may face disruption on Wednesday as major bank unions prepare to join a nationwide general strike, Bank of Baroda said in an exchange filing.

The state-owned lender has sounded caution that the functioning of its branches and offices could be affected if the strike materialises, despite the bank's efforts to maintain normal operations, the exchange filing said.

The strike notice was served by the general secretaries of the All India Bank Employees' Association (AIBEA), the All India Bank Officers Association (AIBOA), and the Bank Employees Federation of India (BEFI), who informed the Indian Banks' Association that their members would participate in the protest.

This industrial action is part of a broader "Bharat Bandh" called by a forum of 10 central trade unions, mobilising support from over 25 crore workers across sectors including banking, insurance, postal services, and public sector enterprises, a report by the LiveMint said.

The unions are protesting against what they describe as the government's "pro-corporate policies," recent labour law reforms, and the privatisation of public sector institutions.

Key demands by the workers include that the government must take urgent steps to address unemployment.

It sought to fill up all vacant sanctioned posts, creating more job opportunities, increasing MGNREGA workdays, and increasing wage hikes. The trade unions are also seeking an MGNREGA-like scheme for urban areas.

They want the government to address the Employment Linked Incentive (ELI) scheme, which they allege benefits employers rather than addressing workers' needs.

The strike, originally scheduled for May but postponed due to national events, is expected to see participation from employees of banks, insurance companies, and other public sector undertakings nationwide.

Farmers and rural workers are also likely to join, amplifying the protest’s impact.