InvestorQ : Did the bank strike really hit the PSU banks like SBI and what about private banks like ICICI Bank and HDFC Bank?
prachi Patwardhan made post

Did the bank strike really hit the PSU banks like SBI and what about private banks like ICICI Bank and HDFC Bank?

Answer
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9 months ago


The impact on private banks was not much because the unions of public sector banks had called for the strike. However, even in case of PSU banks, the impact was felt more in the case of large banks like SBI where the volumes are high. There were reports that the NEFT and RTGS transfers got delayed as most of the SBI branches were understaffed and could not cope with the demand for physical NEFT and RTGS transfers. However, online transactions were not substantially impacted.

In the case of branch banking, most branches were impacted as limited staff had to be deployed for corporate banking and that impacted the retail banking to some extent. But overall the impact was limited other than the slight delay in the NEFT and RTGS transfers.