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Three-Day Bank Strike Threatens Cheque Clearing and Branch Services
About eight lakh bank workers in India plan to stop working for three days.
The strike is planned for September 28, 29 and 30.
They want banks to operate five days a week and have pension-related demands.
The timing could create several days when bank branches are unavailable because the previous two days are a weekend.
Public sector banks have been asked to open on September 27 to help customers.
Cheque processing, cash deposits, cash withdrawals and some government transactions may be delayed.
Between Rs 15,000 crore and Rs 20,000 crore in cheques could be held up.
ATMs, mobile banking, internet banking and UPI are expected to keep working.
Private banks such as HDFC Bank, ICICI Bank and Axis Bank are not part of the proposed strike.
Around eight lakh bank employees represented by the United Forum of Bank Unions plan to strike nationwide on September 28, 29 and 30.
The unions are seeking five-day banking and changes related to pensions.
Public sector banks have been asked to open on September 27 because September 26 and 27 fall on a Saturday and Sunday.
The strike could delay an estimated Rs 15,000 crore to Rs 20,000 crore in cheque clearances, affecting smaller businesses’ working-capital cycles.
ATMs, UPI, internet banking and mobile banking are expected to continue, while branch-based services such as cash handling and foreign exchange may be disrupted.
- Who
- Around eight lakh bank employees represented by the United Forum of Bank Unions.
- What
- A three-day nationwide bank strike over five-day banking and pension-related demands.
- Where
- Across India.
- When
- September 28, 29 and 30; public sector banks have been asked to open on September 27.
- Why
- The unions are seeking five-day banking and addressing pension-related issues.
Key facts
- Employees involved
- Around eight lakh bank employees
- Strike dates
- September 28, 29 and 30
- Estimated cheque delays
- Rs 15,000 crore to Rs 20,000 crore
- Daily UPI value
- Roughly Rs 88,000 crore to Rs 1 lakh crore
- Services expected to continue
- ATMs, UPI, internet banking and mobile banking
- Services most at risk
- Cash handling, cheque clearing, government treasury operations, foreign exchange and money-market activities
- Private-sector banks excluded
- HDFC Bank, ICICI Bank and Axis Bank are not part of the proposed strike
Sources
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