India
oi-Swastika Sruti
There might be disruptions in banking facilities in India from September 28 till 30 due to the fact that the United Forum of Bank Unions (UFBU) has decided to organize a three-day nationwide strike in relation to the longstanding demand for a five-day banking week.
India’s United Forum of Bank Unions planned a three-day strike from September 28-30 for a five-day banking week, risking disruption before the September 30 half-yearly closing, despite the Finance Ministry urging cancellation.
This decision was taken following a daylong nationwide strike held on September 11. The unions have threatened further agitations in case their demands are not met.
It should be noted that the situation is contingent upon future events since the Finance Ministry has asked bank workers to abandon plans for the strike scheduled for September 28-30 because it might disrupt banking operations amid the half-yearly closure.
Why Are Bank Employees Going On Strike?
The main demand of the bank unions is the introduction of a five-day banking week, under which banks would remain closed on Saturdays and Sundays.
The unions have argued that the five-day work week should be implemented for bank employees. They have also raised other issues, including pension-related matters and concerns over the Performance Linked Incentive (PLI) scheme.
The UFBU brings together seven major bank employee and officer unions:
- All India Bank Employees’ Association (AIBEA)
- All India Bank Officers’ Confederation (AIBOC)
- National Confederation of Bank Employees (NCBE)
- All India Bank Officers’ Association (AIBOA)
- Bank Employees Federation of India (BEFI)
- Indian National Bank Officers’ Congress (INBOC)
- Indian National Bank Employees’ Federation (INBEF)
The unions say they represent a large section of India’s banking workforce.
Three-Day Strike Could Affect Banking Services For Five Days
This proposed strike is to happen on September 28, 29 and 30.
The previous day which is September 26 is the fourth Saturday, and then comes Sunday September 27. This means that bank transactions may not take place for five days continuously wherever the strike may affect.
Timing here becomes very important because September 30 is the end of half year period in the banks. According to the Finance Ministry, there would be certain effects of the disruption at this time.
What Will Happen To UPI, ATMs And Online Banking?
A bank strike primarily affects branch and office operations. Digital banking services are expected to remain available, although customers could face delays in certain transactions depending on the bank and service involved.
Customers can continue to use:
- UPI
- Mobile banking applications
- Internet banking
- ATMs
- Card payments
- Other digital payment services
During the September 11 strike, branch-level services such as cash transactions and cheque clearances were affected in several parts of the country, while digital banking services continued to remain available.
State Bank of India has also advised customers to complete important banking transactions in advance and use ATMs and digital channels during the possible disruption.
What Should Customers Do Before September 28?
Customers who have banking work that requires a branch visit should ideally complete it before the strike begins.
1. Complete Branch-Related Work
If you need to visit a branch for cash deposits, cheque-related work, KYC updates, document submission, demand drafts or other physical services, complete these tasks in advance.
2. Keep Some Cash For Emergencies
Customers who depend heavily on branch withdrawals should plan their cash requirements beforehand.
ATMs are expected to remain operational, but keeping some cash for essential expenses can help avoid inconvenience if a particular ATM runs out of cash or faces a technical problem.
3. Check Your Account Balance
Make sure there is sufficient balance in your account for scheduled payments such as:
- EMIs
- SIPs
- Insurance premiums
- Utility bills
- Loan repayments
- Other automatic payments
4. Use Digital Banking
UPI, mobile banking and internet banking can be used for routine payments and fund transfers.
However, customers should not wait until the last minute for urgent transactions, particularly those involving large payments or services that require branch verification.
Strike Comes After September 11 Protest
The proposed three-day strike follows the nationwide bank strike held on September 11.
That strike affected public-sector bank branch operations in several parts of the country.
Reports said cash transactions, deposits, withdrawals and cheque clearances were among the services affected, although the impact varied from state to state. Digital banking services largely continued.
The unions have maintained that the five-day banking week remains their key demand.
The All India Bank Employees’ Association said discussions had taken place with the Indian Banks’ Association and government representatives, but no concrete timeline for implementing five-day banking had emerged.
Government Urges Unions To Call Off Strike
The latest development came on September 21, when the Finance Ministry urged public-sector bank employees to withdraw the proposed three-day strike.
The ministry said the September 28-30 action could create significant disruption because it coincides with the half-yearly closing of banks.
According to the government, several rounds of discussions and conciliation meetings have already taken place. It also said the PLI issue had been addressed by keeping the scheme for public-sector bank executives in abeyance for 2025-26, while the five-day banking demand remains under consideration.
The unions, however, have continued to press for a clear decision on five-day banking.
Indefinite Strike Threat From October 26
The dispute could continue beyond September.
The UFBU has announced an indefinite nationwide strike from October 26 if its demands remain unresolved.
The unions are also seeking action on pension-related issues, including pension updation and other employee-related demands.
