Four bank unions in collaboration have announced a bank strike from 26th – 27th of September. Bank Unions went on strike due to government’s decision to merge 10 Public Sector Banks (PSB) into four and demand for salary hike.
Banks to be Operational only 3 Days this Week
Interestingly, the strike is planned in such a way that the Banks remain closed for 4 days in a row.
28th September happens to be a bank holiday since it is the fourth Saturday of the month and 29th September is a Sunday. This implies that most of the branches will be functional only for 3 days in the following week.
Four Bank Unions Collaborated
Four bank unions have collectively called off the strike. The unions are: All Indian Bank Officers Confederation (AIBOC), Indian National Bank Officers Congress, All India Bank Officers Association (AIBOA) and the National Organisation of Bank Officers.
In addition, all bank operations are likely to be affected if the strike is carried out. ATMs may also have insufficient cash because of the strike.
Online Banking will be Functional
The strike will have no effect on online banking as it is not a bank holiday. NEFT and RTGS are open from 8am- 7pm except on 28th as it is fourth Saturday of the month.
The union has also threatened that if their demands are not met, they could go for indefinite strike.
Other Unions to Protest as well
All India Bank Employees Association and Bank Employees Federation of India have also announced to call off a strike to protest against the merger of PSBs.
If the strike takes place it would adversely affect the operations of the bank hence government should try to resolve their issues.