New Delhi, Sep 27: Banking services across several segments are expected to be disrupted for three days from Monday as bank unions launch a nationwide strike demanding a five-day working week and resolution of other pending issues.
The strike, called by the United Forum of Bank Unions (UFBU), is expected to primarily affect public sector banks, old-generation private sector banks and regional rural banks. Services such as cheque clearing, cash deposits and withdrawals at branches may be impacted.
However, digital banking services, including internet and mobile banking, UPI and ATMs, are expected to remain available, subject to normal operational conditions.
Branches of new-generation private sector banks such as ICICI Bank, HDFC Bank and Axis Bank are expected to remain operational during the strike period.
Several public sector banks have advised customers to complete essential branch-based transactions in advance and use digital channels and ATMs wherever possible.
State Bank of India, in an advisory to customers, said certain services could be affected during the strike despite efforts to provide essential banking services. It urged customers to use ATMs, YONO, internet and mobile banking, UPI and other digital channels for their banking requirements.
The UFBU, an umbrella body representing seven bank employees’ and officers’ unions, has also threatened an indefinite strike from October 26 if its demands are not addressed.
The five-day banking week has been a longstanding demand of bank unions. Union representatives have said that several government and financial institutions, including the Reserve Bank of India, LIC, GIC and NABARD, already follow a five-day working schedule.
“Agitation has been forced on the unions due to the actions of the government and management,” AIBOC general secretary Rupam Roy said.
NCBE general secretary L Chandrasekhar said the unions were also seeking changes in pension-related benefits, including updating pension benefits and introducing a uniform dearness allowance formula for pensioners.
Another demand is an option for employees covered under the National Pension System to switch to the Old Pension Scheme.
The Finance Ministry has urged bank employees to avoid strikes and resolve outstanding issues through dialogue. It said most concerns raised by the unions had been substantially addressed and that the remaining demand was still under examination.
The ministry also said the performance-linked incentive scheme, one of the major issues raised by the unions, had been put in abeyance earlier this month following discussions.
The latest strike follows a one-day nationwide bank strike held on September 11.
