Banks Shut for Four Consecutive Days: Cheque Clearance and Cash Transactions to Remain Suspended from Today

Banking services across the country will remain largely paralysed for four consecutive days, beginning Saturday, due to a combination of holidays and a nationwide bank strike. Customers have been advised to plan their financial transactions accordingly, as branch-level services, cheque clearance, and cash transactions will not be available during this period.

Why Banks Will Remain Closed

According to bank unions, services will be severely affected from January 24 to January 27 due to the following reasons:

• January 24 (Saturday): Fourth Saturday (Bank Holiday)
• January 25 (Sunday): Weekly Holiday
• January 26 (Monday): Republic Day (National Holiday)
• January 27 (Tuesday): Nationwide Bank Strike

As a result, customers will face a four-day shutdown of physical banking operations, including branch visits, cheque clearing, and over-the-counter cash withdrawals or deposits.

SBI Issues Customer Advisory

India’s largest lender, State Bank of India (SBI), late Friday night issued an advisory on social media platform X, alerting customers about potential service disruptions due to the strike.

While SBI said it has made arrangements to ensure continuity of essential services, it cautioned that branch operations may still be impacted. The bank urged customers to use digital banking channels, including internet banking, YONO app, UPI, and mobile banking services, wherever possible.

Nationwide Strike Over ‘Five-Day Banking’ Demand

The primary trigger for the strike is the long-pending demand for a five-day work week in banks. Bank employees under the banner of the United Forum of Bank Unions (UFBU) have intensified protests across several cities, including Jodhpur, where a large rally was organised.

Union leaders claim that an agreement on five-day banking was reached with the Indian Banks’ Association (IBA) on March 8, 2024, but alleged “backtracking” by the Central Government forced employees to take to the streets.

“The government’s failure to honour its commitment has left us with no option but to go on strike,” union representatives said, warning that the agitation could intensify if demands remain unmet.

What Customers Should Do

With uncertainty looming over negotiations, customers are advised to:

• Complete urgent cash and cheque-related work only after January 27
• Rely on digital payment platforms for essential transactions
• Avoid last-minute banking needs during the shutdown period

Will the Government Step In?

Whether the government will intervene before the strike date remains uncertain. For now, customers may have to depend entirely on digital banking for the next four days, as the banking sector braces for one of its most disruptive shutdowns in recent months.