Hyderabad: Four-day bank closure could affect branch services from September 11 as a nationwide strike coincides with regular weekend and Ganesh Chaturthi holidays.
The United Forum of Bank Unions (UFBU) has called a one-day strike on Friday, September 11. Banks will also close on September 12 for the second Saturday and September 13 for Sunday.
Several states will observe a bank holiday on Monday, September 14, for Ganesh Chaturthi. Therefore, customers could face four consecutive days without regular branch services.
People with important financial transactions should complete their work before September 11. This includes cash deposits, withdrawals, cheque clearances and loan-related work.
Four-day bank closure follows bank unions’ strike call
Five-day working weeks remain the main demand of bank employee unions. The unions said authorities reached an in-principle agreement on the issue in 2024 but delayed implementation.
In addition, the unions want a review of the revised performance-linked incentive (PLI) scheme. They have also demanded solutions to pension-related issues.
The Indian Banks’ Association (IBA) and government officials held talks with the unions on September 9. However, the discussions failed to resolve the issues.
Officials asked the unions to defer the strike in view of the BRICS summit. The unions rejected the request after receiving no clear assurance on their demands.
UFBU has threatened further action if the government does not address its demands. The unions plan another three-day strike from September 28 to 30.
They have also announced an indefinite strike from October 26 if the issues remain unresolved. Public sector banks, including State Bank of India (SBI), could face the biggest impact.
Private banks may see less disruption during the period. However, customers could still experience some indirect effects.
Digital banking services should continue during the four-day bank closure. ATMs, internet banking, mobile banking applications and UPI services are expected to remain available.
YONO and similar mobile banking platforms should also continue to function. However, some ATMs could face cash shortages during the extended closure.