Nationwide strike: Banks to remain closed for five days, customers advised to plan transactions

NEW DELHI: Banking services across the country are set to be disrupted for five consecutive days as bank employees have called a nationwide strike. The United Forum of Bank Unions (UFBU), a joint organisation of bank employees’ unions, has announced a nationwide strike from Monday, September 28, to Wednesday, September 30. Banks will already remain closed on the preceding Saturday and Sunday, September 26 and 27, as September 26 is the fourth Saturday of the month. This will result in banks remaining closed for five consecutive days.

Customers have been advised to complete transactions that require a visit to a bank branch by Friday, September 25. Banks have also asked customers to plan transactions such as cash withdrawals, deposits, money transfers and loan repayments in advance. However, internet banking and mobile banking services are expected to remain available during the strike period.

The UFBU’s main demand is to implement a five-day banking week by declaring Saturdays as full holidays. The strike was announced after talks with the Deputy Chief Labour Commissioner failed to resolve the issues. The unions are also demanding the withdrawal or amendment of the revised Performance Linked Incentive (PLI) scheme through bilateral negotiations and the resolution of other pending issues.

The Finance Ministry, however, said several measures were being implemented for the welfare of bank employees and that the proposal for a five-day banking week was under consideration by the government. The government said the strike would cause major inconvenience to the public and adversely affect the business sector. It urged the unions to withdraw the strike and cooperate with further discussions. The UFBU, however, has decided to continue with the strike until favourable action is taken on its demands.