Bank strike from Sept 28-30: Finance ministry to meet PSB, RRB chiefs today — Check attendees, agenda and other details
A three-day bank strike is scheduled from September 28 to 30, raising concerns over possible disruption to banking operations and customer services. Against this backdrop, the Finance Ministry has called a meeting of chief executives of public sector banks and regional rural banks on Monday.
The high-level meeting will focus on measures to ensure continuity of essential services during the possible disruption, which could effectively stretch to five days as the strike follows the weekend holidays.
This strike, if it materialises on the upcoming dates, would coincide with the half-yearly closing of the banking sector.
According to a communication sent to banks, the Department of Financial Services (DFS) Secretary will chair the meeting on September 21, news agency PTI reported. However, it is not yet clear which banks will be attending.
Demands of the protestors
The three-day strike has been called by the United Forum of Bank Unions (UFBU), which is an umbrella body of seven unions representing 90% of officer and employee strength. It seeks to press for implementation of a five-day banking week, along with resolution of other employee-related issues.
Bank unions under UFBU had previously gone on a nationwide strike on September 11 over the same demands.
UFBU claims to represent 90% of the banking workforce, and their other demands include an update and improvement of pension, a uniform dearness allowance formula for all pensioners and an option for employees covered under the National Pension System (NPS) to switch to the old pension scheme
Agenda of the meeting
The meeting between the Finance Ministry and the chief executives of public sector banks and regional rural banks is expected to deliberate on contingency measures to minimise disruption to banking services.
It also seeks to ensure that customers continue to have access to essential facilities during the strike, the news agency reported.
Five days with no bank services
The upcoming strike from September 28 to 30 comes after the weekend of September 26 and 27. As a result, branch operations may remain unavailable for a longer period in some states, depending on the strike participation and the applicable bank holiday calendar.
Many banks, including the State Bank of India (SBI) and Union Bank of India, have issued advisories for customers regarding their banking services ahead of the strike. Banking operations may be disrupted during those days, so the banks have requested users to complete bank-related tasks before the strike dates.
What services will remain available?
Customers can opt for ATMs, CSPs for essential banking needs during the strike. They are also advised to use ATMs and Automated Deposit and Withdrawal Machines (ADWMs) for cash requirements during the period.
Meanwhile, net banking services, YONO, mobile banking and UPI for digital transactions will also remain available. These digital channels offer faster payments, transfer money and carry out other safe banking activities without the need to visit a branch.
However, customers cannot complete all branch-dependent services online. Other services which require physical documents, specific cheque services or other staff-assisted processes may see delays if operations are affected in a bank branch. So, if you think you may require to visit a bank for a particular service, ensure that you finish it before the strike happens.
