Bank Strike: What Customers Need to Know

Banking operations could face disruptions as employees of several public sector banks and Regional Rural Banks prepare for a three-day strike from September 28 to 30.

The action centres on demands for a five-day banking week and changes to the Performance Linked Incentive (PLI) scheme.

The United Forum of Bank Unions (UFBU) has called the strike. It represents several banking unions and says the action supports these long-standing demands.

Meanwhile, the government has urged employees to resolve the issues through discussions.

The Finance Ministry has also highlighted the timing of the strike. September 30 marks the half-yearly closing for banks.

During this period, banks handle reconciliation, provisioning, treasury activities and market operations. Consequently, a prolonged disruption could affect customers, businesses and government transactions.

To reduce the impact, public sector banks and Regional Rural Banks will operate normally on Sunday, September 27.

The Reserve Bank of India has approved operations at bank branches, offices, ATM-linked branches and currency chests that day.

However, the strike will mainly affect public sector banks and Regional Rural Banks. India currently has 12 public sector banks.

These include State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank and Union Bank of India. Bank of India, Indian Bank, Central Bank of India, Bank of Maharashtra, Indian Overseas Bank, UCO Bank and Punjab & Sind Bank are also included.

Private sector banks are expected to continue normal operations. Therefore, their customers can use branches and digital banking channels as usual.

Meanwhile, several public sector banks have advised customers to complete important transactions beforehand.

SBI has suggested using ATMs, Automated Deposit and Withdrawal Machines, internet banking, YONO, UPI and mobile banking.

Similarly, Union Bank has recommended mobile and internet banking, ATMs and UPI.

Canara Bank has highlighted UPI, QR payments, cards, ATMs, Cash Deposit Machines, BBPS and Business Correspondents.

Bank of Baroda has also encouraged customers to use digital services during the strike.

Separately, the government has taken steps to prevent salary-related disruptions. Ministries and departments were advised to release September salaries on September 25.

Central government pension payments and industrial wages were also expected to be processed early.

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