The finance ministry has called a meeting of chief executives of public sector banks (PSBs), regional rural banks (RRBs), the Indian Banks’ Association (IBA) and Nabard on Monday to take stock of preparations ahead of a three-day nationwide bank strike beginning September 28.
The meeting, chaired by the secretary of the Department of Financial Services (DFS), will discuss contingency measures to ensure continuity of banking operations and essential customer services during the strike, according to a communication sent to banks.
The United Forum of Bank Unions (UFBU), an umbrella body of seven bank employee and officer unions, has called the strike over several pending demands, with the implementation of a five-day banking week being a key issue. The unions had earlier observed a nationwide strike on September 11 over the same demand.
The strike affected over-the-counter services, cash transactions and cheque clearances. The impact, however, varied significantly across geographies. While things were largely normal in Mumbai, disruptions were reported in Madhya Pradesh, Goa, Telangana, Kolkata and Uttar Pradesh, particularly in Tier-III and Tier-IV cities.
The unions are also seeking the updating and improvement of pensions, a uniform dearness allowance formula for pensioners and an option for employees covered under the National Pension System (NPS) to switch to the old pension scheme, among other demands. UFBU has said it represents around 90 per cent of the banking workforce.
The three-day strike could affect banking services for five days as September 26 and 27 fall on a weekend. The timing also coincides with the half-yearly closing of banks, increasing the need for contingency arrangements to maintain essential services, according to reports.
The unions had served a strike notice on August 26. Conciliation proceedings involving the unions, IBA and government representatives were subsequently held, but the issue of a five-day banking week remained unresolved. UFBU has said it would continue with the strike unless there is a concrete development on the demand.
