Banking services are set for a potential disruption at the end of September as the United Forum of Bank Unions (UFBU) prepares for a three-day nationwide strike from September 28 to 30. To prevent customers from facing prolonged inconvenience because of the strike and the preceding weekend, the government has directed all public sector banks and regional rural banks to operate normally on Sunday, September 27.
The government has moved to protect essential banking services ahead of the proposed strike by ensuring that public sector banks and regional rural banks remain operational on September 27, despite it being a Sunday.
The Ministry of Finance said the decision was aimed at ensuring that customers do not face an extended interruption in banking facilities. The Reserve Bank of India has also approved the operation of bank branches, offices, ATM-linked branches and Currency Chests on the day.
The unusual Sunday opening assumes significance because September 27 falls immediately before the proposed three-day strike and follows the weekend holiday on September 26. The government said the arrangement would help customers complete important transactions before the strike begins.
The Finance Ministry has reiterated that the convenience and welfare of bank customers remain a priority and appealed to bank unions to reconsider the proposed industrial action.
The government and bank management have urged employee organisations to settle their outstanding demands through negotiations rather than resorting to a strike. The Sunday working arrangement is part of the measures being taken to keep essential banking services available to the public.
However, the UFBU has indicated that it intends to proceed with the strike. A conciliation meeting held on Tuesday before the Deputy Chief Labour Commissioner failed to produce a settlement.
The meeting came a day after the Finance Ministry appealed to bank employees to avoid the strike and continue discussions to resolve their demands.
The UFBU, which says it represents around 90 per cent of the banking workforce, is seeking several demands, with the introduction of a five-day banking week among its prominent issues.
If the strike goes ahead, customers could experience disruption in branch-based banking and other services during the three-day period. The timing could add to the operational challenge because September 30 marks the half-yearly closing of banks.
The half-yearly closing requires extensive work relating to account reconciliation, provisioning and treasury and market operations, making uninterrupted operations particularly important for banks.
Several public sector banks have consequently begun advising customers to complete transactions in advance and make greater use of digital alternatives. Mobile banking, internet banking, ATMs, Business Correspondent (BC) Points and UPI are among the channels being highlighted for routine banking requirements.
With the government keeping banks open on September 27 and unions maintaining their strike call for September 28-30, the coming days are likely to be closely watched by customers and the banking sector alike.
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