Arya News - The Finance Ministry has called a meeting with the heads of public sector banks (PSBs), regional rural banks (RRBs), the Indian Banks’ Association (IBA) and Nabard on Monday to review arrangements ahead of a proposed three-day nationwide bank strike from September 28.
NEW DELHI – The Finance Ministry has called a meeting with the heads of public sector banks (PSBs), regional rural banks (RRBs), the Indian Banks’ Association (IBA) and Nabard on Monday to review arrangements ahead of a proposed three-day nationwide bank strike from September 28.
The meeting will be chaired by the Secretary of the Department of Financial Services (DFS). Officials are expected to discuss contingency plans to minimise disruption and ensure that essential banking and customer services remain available during the strike.
The strike has been called by the United Forum of Bank Unions (UFBU), an umbrella organisation representing seven bank employee and officer unions. One of the key demands of the unions is the introduction of a five-day working week for banks.
The unions had previously observed a nationwide strike on September 11 over the issue. The action affected several banking operations, including branch-based services, cash transactions and cheque processing, although the extent of disruption differed across states and cities.
While banking activity remained largely normal in Mumbai during the earlier strike, disruptions were reported in parts of Madhya Pradesh, Goa, Telangana, Kolkata and Uttar Pradesh. Smaller Tier-III and Tier-IV centres saw relatively greater impact.
Besides the five-day workweek, the unions have raised demands related to pension revision, improvements in pension benefits and a uniform dearness allowance formula for pensioners. They are also seeking an option for employees covered under the National Pension System (NPS) to shift to the old pension framework.
The UFBU has said it represents around 90% of the banking workforce.
The upcoming strike could have a wider impact on banking operations as it follows the September 26-27 weekend. The timing also coincides with the half-yearly closing period for banks, when branches and back-office operations typically face higher workloads.
The unions had issued a formal strike notice on August 26. Subsequent conciliation meetings involving representatives of the unions, the IBA and the government attempted to address the outstanding issues. However, the demand for a five-day banking week has remained unresolved.
The UFBU has indicated that it will proceed with the strike unless there is a concrete breakthrough on its demands.
Against this backdrop, the Finance Ministry’s meeting is expected to focus on maintaining essential services and preparing banks for any operational disruptions during the proposed strike period.