Tuesday, 02 January 2024 12:17 GMT

Are Banks Open This Sunday? Here's What Customers Need To Know Ahead Of Three-Day Nationwide Strike From September 28-30


(MENAFN- Live Mint) All Public Sector Banks (PSBs) and Regional Rural Banks (RRBs) will remain open and operate normally on Sunday, September 27, the Finance Ministry said in a statement, as the government moved to limit disruption to banking services ahead of a proposed three-day nationwide strike.

The United Forum of Bank Unions (UFBU) has proposed the strike from September 28 to 30. The proposed strike would follow the weekend holidays on September 26 and 27, resulting in banking services being disrupted for five consecutive days.

The Finance Ministry said the Reserve Bank of India (RBI) has approved the opening of all bank branches, offices, ATM-link branches and currency chests on September 27.

The additional working day on Sunday would ensure that customers can access essential banking services before the strike begins on Monday.

"In order to ensure that the genuine banking needs of the public are not adversely affected for an extended period, all Public Sector Banks and Regional Rural Banks will function normally on Sunday, the 27th of September, 2026," the ministry said.

Also Read | Bank Strike Sept 28-30: What customers need to do before the disruption

Why are banks being kept open on Sunday?

The decision comes against the backdrop of the proposed UFBU strike and the weekend holidays immediately preceding it. The government said the move was aimed at preventing an extended disruption to customers.

The RBI's approval covers the wider banking network, including regular branches, bank offices, ATM-linked branches and currency chests.

The government and bank managements have also appealed to the unions to defer the proposed strike and resolve their outstanding demands through discussions.

"The Government and bank managements have appealed to unions to defer the proposed strike, and have also taken measures to ensure that essential banking services continue un-interrupted," the ministry said.

Also Read | Bank strike: Will it affect your loan EMI and credit card bill payments? What is the bank unions' demand?

The UFBU is seeking a five-day working week in the banking sector, periodic revision of pension for retired employees among others.

The proposed strike also coincides with the half-yearly closing of banks on September 30, an important date for activities including provisioning, reconciliation, treasury operations and other financial work.

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Live Mint

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