The Finance Ministry has called a meeting with the chief executives of public sector banks (PSBs) and regional rural banks (RRBs) to review preparations for a proposed three-day nationwide bank strike from September 28.
The meeting is scheduled for September 21 and will be chaired by the Secretary of the Department of Financial Services (DFS). Bank chiefs have been asked to attend the discussion, which will focus on contingency measures to keep essential banking services running during the strike.
The United Forum of Bank Unions (UFBU) has called the strike to press for a 5-day work week and other pending demands. The forum had also observed a nationwide strike on September 11.
The timing of the proposed strike could increase pressure on banking operations as it follows a weekend. With September 26 and 27 being Saturday and Sunday, customers could experience limited access to some branch services for 5 consecutive days.
The strike also comes close to the half-yearly closing of bank accounts, a period when banks generally handle higher volumes of transactions and accounting work.
The Finance Ministry is expected to discuss ways to minimise disruption and maintain access to essential facilities. Banks may also review branch-dependent services that require customers to visit in person.
Digital banking channels are expected to remain available for routine transactions, although services requiring physical documentation, staff assistance or other in-person processes could face delays depending on employee participation.
The UFBU claims to represent around 90% of the banking workforce. Apart from a 5-day work week, its demands include improved pension benefits and a uniform dearness allowance formula for bank pensioners.
The unions are also seeking an option for employees covered under the National Pension System (NPS) to shift to the old pension scheme (OPS).
The impact on banking services will depend on the contingency arrangements put in place by individual banks and the extent of participation in the proposed strike.
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