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Bank strike today | Bank holiday news: Are public sector banks (SBI, BOB, PNB, Canara Bank, Union Bank of India) open for customers? | India Business News – The Times of India

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Bank strike today | Bank holiday news: Are public sector banks (SBI, BOB, PNB, Canara Bank, Union Bank of India) open for customers? | India Business News – The Times of India


Banking operations at public sector banks across the country are likely to be disrupted on Tuesday as bank unions go ahead with a nationwide strike to press for the immediate implementation of a five-day work week. The strike has been called by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions representing bank officers and employees, after conciliation meetings with the chief labour commissioner on January 22 and 23 failed to yield any assurance on their demand, union leaders said.With banks already closed on January 23 (Basant Panchami), January 24 (fourth Saturday), January 25 (Sunday) and January 26 (Republic Day), the strike on January 27 is expected to disrupt branch-level services for five consecutive days.“Despite detailed discussions during the conciliation proceedings, there was no assurance on our demand. Hence, we have been compelled to proceed with the strike action,” C H Venkatachalam, general secretary of the All India Bank Employees Association (AIBEA), a UFBU constituent, told PTI.

What services will be affected

Branch-level services such as cash deposits, withdrawals, cheque clearances and administrative work are expected to be hit at public sector lenders, including State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda.However, operations at major private sector banks such as HDFC Bank, ICICI Bank and Axis Bank are expected to remain largely unaffected, as their employees are not part of the unions participating in the strike.Digital banking services, including UPI, mobile and internet banking, will continue to function, though ATM cash availability could face localised issues due to logistical delays.

Why unions are striking

The unions are demanding that all Saturdays be declared holidays, a proposal they say was agreed upon during the 12th Bipartite Settlement signed with the Indian Banks’ Association (IBA) in March 2024 but is yet to be notified by the government. “It is unfortunate that the government is not responding to our genuine demand. There would be no loss of man-hours as we have agreed to work an extra 40 minutes daily from Monday to Friday,” Rupam Roy, general secretary of the All India Bank Officers’ Confederation (AIBOC), said.At present, banks remain open on the first, third and fifth Saturdays of every month.Union leaders said the strike was not aimed at inconveniencing customers. “This movement is not against customers, but for a sustainable, humane, and efficient banking system. A rested banker serves the nation better. A balanced workforce strengthens financial stability. 5-Day banking is not a luxury; it is an economic and human necessity,” L Chandrasekhar, general secretary of the National Confederation of Bank Employees (NCBE), said.

Government banks step in to limit disruption

An urgent meeting was held on Monday under the chairmanship of the secretary, department of financial services, with the chairman of SBI, managing directors and CEOs of nationalised banks, and the chief executive of the IBA, sources told ANI.Banks were advised to take all necessary steps to ensure smooth functioning of customer services, digital channels, clearing and settlement systems, government business and services delivered through business correspondents.Sources said banks have conveyed that ATMs are being adequately loaded with sufficient cash and arrangements made for timely replenishment. While branch operations may be impacted, digital banking services are expected to remain available seamlessly.Several public sector banks, including SBI, have also informed stock exchanges about the possible impact.“We advise that while the bank has made necessary arrangements to ensure normal functioning in its branches and offices on the day of strike, it is likely that work in the bank may be impacted by the strike,” SBI said in a regulatory filing on Friday.



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Australia fuel crisis: Panic buying prompts PM to reassure nation over fuel supply

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Australia fuel crisis: Panic buying prompts PM to reassure nation over fuel supply



Anthony Albanese says nation’s supply remains “secure” amid reports of panic buying and shortages.



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Meta and YouTube found liable in social media addiction trial

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Meta and YouTube found liable in social media addiction trial



A woman has been awarded $6m in a verdict that could have implications for hundreds of other cases in the US.



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Target faces a new boycott over ICE response as retailer presses ahead with turnaround

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Target faces a new boycott over ICE response as retailer presses ahead with turnaround


A major teachers’ union is calling for its members to skip Target when buying back-to-school supplies, the latest twist in a series of boycotts that have targeted the big-box retailer as its turnaround shows signs of life, CNBC has learned.

The AFT, or American Federation of Teachers, passed a resolution Thursday that calls on its 1.8 million members and others to shop at local stores and not at Target, saying the company did not respond adequately to the surge of federal immigration enforcement in the retailer’s hometown of Minneapolis this winter. Federal agents shot and killed two U.S. citizens, Renee Good and Alex Pretti, during the operation.

The labor union, which is affiliated with the AFL-CIO, plans to urge a similar resolution at AFL-CIO’s convention in Minneapolis this summer and at conventions held by other organizations, including the NAACP and LULAC, AFT President Randi Weingarten said.

Target declined to comment specifically on the AFT’s resolution but said in a statement that it has “a longstanding commitment to strengthening the communities we serve,” including donating 5% of profits since the company’s founding and offering a discount to educators as part of a teacher appreciation program.

Target’s annual sales have declined for the past three years in a row, but the company’s new CEO Michael Fiddelke laid out an ambitious plan earlier this month to refresh its stores, add more enticing merchandise and return to sales growth. The retailer said it expects net sales to rise about 2% this fiscal year compared with the prior year and anticipates sales will grow every quarter.

It is unclear if and how much the AFT’s call for a back-to-school boycott could hurt Target, which is trying to win back customers. Earlier this month, Atlanta area pastor Jamal Harrison Bryant announced the end of a yearlong boycott of the company, called Target Fast, which had started because of the company’s rollback of major diversity, equity and inclusion initiatives.

At a press conference, Bryant said Target has demonstrated its commitment to the Black community with investments in Black businesses and donations to Historically Black Colleges and Universities. Yet other activists leading a separate boycott, including former Ohio state Sen. Nina Turner, have said they continue to call for shoppers to steer clear of Target.

The AFT previously supported and participated in the Target boycott over its DEI rollback.

The retailer has attributed some of its sales losses to backlash to its DEI decision, along with other factors including company missteps with merchandise, a weaker store experience and softer discretionary spending.

At an investor meeting in Minneapolis in early March, Fiddelke stressed that it’s “a new chapter for Target.” He said the company is “doing the work to build connection with new guests, deepen relationships with existing guests and earn back trust with guests we’ve disappointed.”

In a separate email to Target employees earlier this month, Fiddelke highlighted how the retailer is putting its strategy into action, including through its move to cut prices on more than 3,000 items and the opening of its 2,000th store. He said Target has made progress with winning back trust, too, noting the end of the Target Fast boycott.

He said Target has had “ongoing conversations with the organizers” of the boycott, who have “acknowledged the meaningful contributions Target has made, and will continue to make, to the Black community.”

In an interview with CNBC, Weingarten said the AFT’s boycott is focused on what she called Target’s lack of response to the surge of aggressive and violent immigration enforcement in its own backyard. Weingarten said the AFT sent a letter to Target and met with Target staff to encourage them to speak up before the union moved to pass the resolution.

“Target was negotiating with our colleagues in the civil rights community for weeks and weeks and weeks,” she said. “They could have very easily dealt with both [concerns about DEI and immigration enforcement] and they chose not to.”

She said Target is “more worried about standing with the Trump administration than the communities that made them a profitable company.”

Fiddelke joined dozens of executives from Minnesota-based corporations in co-signing a letter in late January calling for an “immediate de-escalation” in the state after the fatal shooting of Pretti. However, the letter did not name the shooting victims Pretti or Good or call out the president, his immigration policies or federal agents.

Fiddelke also shared a video message with employees that more directly acknowledged current events, but stopped short of calling for ICE agents to leave the city or for accountability in the two shooting deaths.

Weingarten described the CEOs’ letter as “insulting” and said it “basically blamed both sides.”

She said the union, which includes many teachers, can have the greatest financial impact during the back-to-school shopping season this summer and fall. By passing the resolution now, she said, the AFT can get the word out to members and “give Target enough time to come back to its senses.”



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