The strike was part of a larger protest against the Centre’s economic and labour policies, which unions claim are “anti-worker and pro-corporate.”
Other unions and federations, including Indian National Trade Union Congress, All India Trade Union Congress, Hind Mazdoor Sabha, Centre of Indian Trade Unions, and All India United Trade Union Centre, also supported the shutdown.
In many states, bank branches could not open due to high employee participation. In other areas, although officers opened branches, routine banking transactions—including cash deposits, withdrawals, and cheque clearances—were disrupted. Some ATMs also ran out of cash due to lack of replenishment.
According to AIBEA, clearing operations were impacted at the National Grids, delaying around 4 crore cheques worth nearly ₹20 lakh crore by a day.
The strike call focused on opposing the privatisation of public sector banks and insurance companies, the replacement of existing labour laws with four new labour codes, and the rising use of contract labour. Protesters also raised concerns about job losses, wage issues, and increasing inequality.
Unions said public sector banks handle ₹140 lakh crore of people’s savings and should not be handed over to private players. They also opposed the idea of extending work hours beyond the current 8-hour norm.
Insurance sector workers from LIC, GIC, and other related organisations also participated.
Other supporting unions included the All India Bank Officers’ Confederation, National Confederation of Bank Employees, Indian National Bank Employees Federation, and Indian National Bank Officers’ Congress.
“We hope the government understands the message and reconsiders its policies,” AIBEA said in its statement.
First Published: Jul 9, 2025 10:40 AM IST
