Banks to remain open on Sunday in view of proposed strike

All banks, including Regional Rural Banks, will remain open on Sunday for the convenience of customers in view of a strike called by the United Forum of Bank Unions (UFBU), the finance ministry said in a statement on Wednesday. The UFBU, which claims to represent 90 per cent of the banking workforce, is set to go on a three-day strike beginning September 28, primarily seeking a 5-day banking week, among other demands. The strike, if it materialises, would coincide with the half-yearly closing of the banking sector.
The Reserve Bank of India has granted approval for all bank branches, offices, ATM-link branches and currency chests to remain fully operational on September 27, it said. The Department of Financial Services under the ministry of finance reiterated that the welfare and convenience of bank customers remains the government's foremost priority. The government and bank managements have appealed to unions to defer the proposed strike, and have also taken measures to ensure that essential banking services continue un-interrupted, it said.
UFBU's other demands include an update and improvement of pension, a uniform dearness allowance formula for all pensioners and an option for employees covered under the National Pension System (NPS) to switch to the old pension scheme (OPS).Banks have also advised their customers to complete essential banking transactions well in advance of the proposed strike dates to avoid any inconvenience.
The proposed 3-day strike period also coincides with the half-yearly closing of banks on September 30, a date of particular significance for reconciliation, provisioning and treasury and market operations.