- Banks open Sunday to precede major strike disruption.
- UFBU’s three-day strike demands five-day banking, improved pensions.
- Strike impacts services, including September 30 half-yearly closing.
Banks across India are open today, Sunday, September 27, after the government directed public sector banks (PSBs) and regional rural banks (RRBs) to operate normally ahead of a proposed three-day nationwide bank strike from September 28 to September 30.
The special Sunday banking arrangement comes after September 26, the fourth Saturday of the month, which was a scheduled bank holiday. The government’s decision is aimed at ensuring customers have access to banking services before the proposed strike, which could otherwise disrupt branch operations for an extended period.
The Reserve Bank of India (RBI) has also approved the functioning of bank branches, offices, ATM-linked branches and currency chests on Sunday.
Why Are Banks Open On Sunday?
September 27 would ordinarily be a weekly holiday for banks. However, with the United Forum of Bank Unions (UFBU) calling for a nationwide strike from Monday, September 28, to Wednesday, September 30, the government has asked public sector banks and regional rural banks to remain operational on Sunday.
The move is intended to reduce the inconvenience to customers ahead of the proposed industrial action.
The strike follows the regular fourth-Saturday holiday on September 26 and Sunday, September 27. With the additional working day, customers will have an opportunity to visit bank branches and complete transactions before the strike begins.
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Why Are Bank Unions Planning A Strike?
The UFBU, which claims to represent around 90% of the banking workforce, has called for the three-day strike, with the implementation of a five-day banking week among its key demands.
The unions have also raised several other issues, including improvements in pension benefits, a uniform dearness allowance (DA) formula for pensioners and an option for employees covered under the National Pension System (NPS) to switch to the Old Pension Scheme (OPS).
Banking services could face disruptions during the proposed strike, depending on employee participation and the extent of the industrial action.
September 30 Bank Closing Adds To Concerns
The proposed strike is scheduled to end on September 30, which is also the half-yearly closing day for banks.
The date is significant for banks as it involves half-yearly closing activities, including reconciliation, provisioning, treasury operations and market-related work.
The combination of the strike and the scheduled closing could affect routine banking activities and transactions, making the special Sunday working arrangement relevant for customers seeking to complete pending work.
What Banking Services Can Customers Use?
Customers can visit operational bank branches on September 27 to carry out banking transactions. The RBI-approved arrangement also covers offices, ATM-linked branches and currency chests.
During any disruption caused by the strike, customers can use digital banking channels for services available through them. These include:
Mobile and internet banking
Unified Payments Interface (UPI)
ATMs
Business Correspondent (BC) points
Customers with time-sensitive transactions or branch-related work may consider using the special Sunday working day to complete them before the proposed strike.
Government Appeals To Unions To Defer Strike
The government and bank management have appealed to the unions to defer the proposed strike and ensure that essential banking services remain available.
However, the UFBU’s strike call remains scheduled for September 28-30, with the five-day banking week and other service-related demands among the issues raised by the unions.
Customers should keep the proposed strike dates in mind while planning branch visits and banking transactions over the coming days.
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