Strike Announcement
The United Forum of Bank Unions (UFBU), which claims to represent 90 % of the banking workforce, has announced a three‑day strike that will begin on 28 September. The strike is aimed at securing a five‑day banking week and a range of pension‑related demands, including a uniform dearness allowance formula and an option for National Pension System (NPS) members to revert to the old pension scheme.
Impact on Public Sector Banks
Public sector banks have issued advisories urging customers to complete essential transactions before the strike. The State Bank of India (SBI) stated that while it will try to provide core services at branches and offices, some services may be affected. SBI also highlighted the use of ATMs, automated deposit/withdrawal machines (ADWMs), YONO, internet and mobile banking, and UPI as alternatives.
Bank of India and Regional Rural Banks have issued similar messages, encouraging customers to rely on 24‑hour digital channels such as mobile banking, internet banking, ATM, and UPI. The government has already instructed public sector banks to remain open on Sunday, 27 September, to help customers complete pending transactions.
Private Sector Response
Old‑generation private banks, such as Karnataka Bank, have warned that branch and office operations may be disrupted if the strike materialises, but have taken steps to maintain normal functioning where possible. The banks have also stated that the financial impact of the strike is difficult to quantify.
In contrast, newer private banks—ICICI Bank, HDFC Bank, Axis Bank and IndusInd Bank—will continue normal operations throughout the strike period.
Government Appeal
Earlier this week, the Finance Ministry appealed to bank employees to refrain from striking and to resolve remaining demands through dialogue. The ministry noted that most of the union’s concerns have already been addressed.
What Customers Should Do
Customers are advised to:
1. Complete all essential banking transactions before 28 September. 2. Use ATMs and ADWMs for cash needs. 3. Leverage digital platforms—YONO, internet/mobile banking, UPI—for routine banking. 4. Keep an eye on official bank advisories for any changes.
Timeline
- **27 September (Sunday)** – Public sector banks remain open. - **28‑30 September** – Proposed strike period. - **31 September** – Banks resume normal operations.
The strike, if it proceeds, will coincide with the banking sector’s half‑yearly closing, potentially amplifying the impact on routine banking activities.
Future Developments
The Finance Ministry’s appeal for dialogue may influence the strike’s outcome. If the strike proceeds, customers should monitor bank communications for any updates on service availability and alternative transaction options.
Bottom Line
The upcoming strike highlights the ongoing negotiation between bank employees and management over working conditions and pension reforms. While public sector banks are taking steps to minimise disruption, customers should proactively use digital channels to avoid inconvenience during the strike period.