Public-sector bank employees affiliated with the United Forum of Bank Unions have called a strike from September 27 to 30, with branches expected to remain closed from Monday to Wednesday and cheque clearing, branch-based RTGS transactions and large cash deposits likely to be affected in Pune.
The strike has been called to press for the long-standing demand for a five-day banking week. The United Forum of Bank Unions, a joint organisation of bank officers and employees, is leading the action. The closure comes at the end of the month, when businesses and salaried workers typically depend on banking services for payments, deposits and salary-related transactions.
According to the report, customers who deposit cheques at a bank branch or through an ATM may not see them processed for three days. The disruption is expected to be particularly significant for large traders and businesses that continue to use cheques for high-value transactions. Such businesses may also be unable to deposit substantial amounts of cash at bank branches during the strike period.
Branch-based Real Time Gross Settlement, or RTGS, transactions are also expected to be affected. RTGS is used by businesses and other customers for high-value fund transfers, and the closure of physical branches could affect transactions that require services to be initiated or supported at a branch. The report does not specify whether all digital banking channels will be affected.
The timing of the strike could also create difficulties for employees awaiting month-end salary credits. Banking-sector experts cited in the report have said that salaries could be delayed because of the action. The extent of any delay will depend on how employers process salary payments and on the banking channels used for those transfers.
In Pune, peaceful demonstrations linked to the strike are scheduled at multiple locations between September 28 and 30. Shirish Rane, joint coordinator of the United Forum of Bank Unions, said demonstrations would be held outside the State Bank branch near the district collector’s office. The first protest is scheduled for 10 am on Monday, while another is planned outside the same branch at 10 am on Wednesday.
Rane said officers and employees from public-sector banks would participate in the demonstrations in significant numbers. He described the action as a peaceful effort by bank employees to demonstrate their collective strength to the government while seeking implementation of a five-day banking week.
Customers and businesses with pending cheques, high-value transfers or cash deposits will therefore need to account for the stated closure period. The next scheduled milestones are the demonstrations in Pune on Monday and Wednesday, alongside the continuation of the strike through September 30.
