Bank strike Sept 28-30: Which services may be affected and what customers should do

The United Forum of Bank Unions (UFBU) has called the strike over its demand for a five-day working week in banks. The government has urged employees to call off the strike and continue discussions, but the unions said after a September 22 conciliation meeting that the strike would go ahead.

In Short

• Bank unions to strike nationwide from September 28 to 30
• Branch services likely disrupted, use ATMs and digital channels
• Complete branch work before September 28 to avoid issues

Bank customers may face disruption in branch-based services for three days from September 28 to 30 as bank unions have decided to go ahead with a nationwide strike despite an appeal from the government to defer the action.

The United Forum of Bank Unions (UFBU) has called the strike over its demand for a five-day working week in banks. The government has urged employees to call off the strike and continue discussions, but the unions said after a September 22 conciliation meeting that the strike would go ahead.

For customers, the key issue is not just whether bank branches will be open. The strike could affect services that require employees or a physical visit to a branch, while banks have advised customers to use ATMs, digital banking and other alternative channels for routine transactions.

The timing could also make the disruption more significant. September 30 is the half-yearly closing date for banks, and the three-day strike follows the September 26 fourth Saturday and September 27 Sunday. This could effectively leave customers with five consecutive days of limited or unavailable branch services at some banks.

WHICH BANKING SERVICES COULD BE AFFECTED?

The biggest impact is expected to be on services that require a bank branch or employee assistance.

State Bank of India and Canara Bank have already warned customers that branch operations could be impacted during the proposed strike period.

This means customers who need to visit a branch for banking work should ideally complete it before September 28.

However, the advisories do not suggest that all banking services will stop. Banks have specifically asked customers to shift to alternative channels wherever possible.

BRANCH VISITS: PLAN THESE BEFORE SEPTEMBER 28

If your banking work requires you to physically visit a branch, do not leave it until the strike dates.

SBI has asked customers to complete important banking transactions before the strike and use alternative channels during the period.

Canara Bank has similarly said that branch banking operations may be impacted from September 28 to 30 and has asked customers to plan transactions in advance.

So, if you have any important branch-related banking work, it is better to complete it before September 28 rather than assuming the branch will be fully operational.

NEED CASH? ATMS ARE EXPECTED TO REMAIN AN OPTION

The strike does not mean that customers will necessarily be unable to withdraw cash.

SBI's customer advisory specifically asks customers to use ATMs and ADWMs for their cash requirements during the strike period.

Canara Bank has also listed ATMs/BNAs among the alternative channels available to customers.

Customers who know they will need cash around the strike dates can therefore plan their withdrawals in advance rather than depending on a branch.

However, customers should also keep in mind that individual ATM availability can vary, so it may be sensible not to wait until the last minute.

UPI, MOBILE AND INTERNET BANKING

Digital banking is expected to be an important alternative during the strike.

SBI has asked customers to use internet banking, YONO, mobile banking and UPI.

Canara Bank has also listed mobile and internet banking and its UPI app among the channels customers can use during the period.

This means customers who only need to make routine digital payments or use online banking should have alternative options even if their bank branch is affected.

Customers should nevertheless complete any transaction that requires physical verification or employee assistance before the strike.

Customers of participating banks may also be able to use alternative points of service.

SBI has advised customers to use Customer Service Points, while Canara Bank has listed business correspondents among its alternative channels.

These channels can be particularly useful for customers who normally depend on a branch for basic banking requirements.

September 30 could be particularly important for businesses and customers with time-sensitive banking work.

The Finance Ministry has pointed out that September 30 is the half-yearly closing date for banks. It is significant for reconciliation, provisioning, treasury and market operations.

The proposed strike comes immediately before and during this period.

With September 26 being the fourth Saturday and September 27 a Sunday, the government has warned that the strike could effectively result in five consecutive days of disruption to normal banking services.

For businesses, in particular, any banking work that depends on branch staff should not be postponed until September 28-30.

WHY ARE BANK EMPLOYEES STRIKING?

The immediate strike is over the demand for five-day banking.

The unions had initially raised two major demands — implementation of a five-day working week and withdrawal of the Performance Linked Incentive (PLI) scheme.

The government has said it has already kept the PLI scheme in abeyance, effectively addressing one of the two demands. The remaining issue is five-day banking.

The UFBU, however, says the five-day banking demand was agreed to and signed in March 2024 under the last wage revision settlement, but has not yet been implemented.

The government says the issue is still under consideration and that the views of different stakeholders have to be taken into account before a decision is taken.

WILL THE STRIKE DEFINITELY GO AHEAD?

As of September 23, the unions are maintaining the September 28-30 strike call.

The government held a conciliation meeting with the unions, the Indian Banks' Association, Department of Financial Services and bank management representatives on September 22. The government appealed to the unions to defer the strike and continue dialogue.

But the UFBU's latest communication said there had been no positive response to its demand and called upon its unions and members to proceed with the three-day strike.

So customers should plan for possible disruption rather than wait for a last-minute resolution.

WHAT CUSTOMERS SHOULD DO NOW

Customers who have important branch-related banking work should complete it before September 28.

If you need cash, SBI has advised customers to use ATMs/ADWMs. For routine transactions, customers can use internet banking, mobile banking and UPI where available. SBI has also suggested Customer Service Points, while Canara Bank has listed business correspondents as an alternative.

Most importantly, customers should not assume that a three-day bank strike means all banking channels will shut down. The bank advisories specifically point customers towards digital and self-service channels. The main concern is the availability of branch-based services and employee-assisted work.

For now, the immediate strike is scheduled for September 28-30. The government has also said an indefinite strike has been proposed from October 26 if the five-day banking issue remains unresolved.

- Ends