Key Highlights:

• RBI has approved all bank branches, ATM-link branches and Currency Chests to remain fully operational on Sunday, September 27.
• The move aims to reduce disruption from the proposed three-day UFBU strike from September 28-30, which coincides with the preceding weekend holidays.
• Without this measure, the disruption would have stretched across five days since Saturday and Sunday were already bank holidays.
• Unions are demanding a five-day banking week and withdrawal of the Performance Linked Incentive (PLI) scheme.
• The government has already placed the PLI scheme in abeyance, addressing one of the unions' two main demands, and has urged them to call off the strike.

A Move to Limit Disruption Ahead of the Strike

In order to minimise disruption to the genuine banking needs of the public, the government has directed public sector banks to stay open on Sunday, a day before the start of the proposed three-day countrywide strike by bank staff from September 28 to 30.

RBI Approval for Sunday Operations

The Reserve Bank of India has granted approval for all bank branches, offices, ATM-link branches, and Currency Chests to remain fully operational on Sunday, September 27, ensuring that essential banking infrastructure remains accessible to the public just ahead of the strike period.

Coverage Across Public Sector and Regional Rural Banks

All public sector banks and Regional Rural Banks will function normally on Sunday, the Finance Ministry said, indicating that this measure applies broadly across the government-owned banking sector rather than being limited to select institutions.

The Reasoning Behind the Decision

"In view of the proposed three-day nationwide bank strike called by the United Forum of Bank Unions (UFBU) from September 28 to 30, coinciding with the preceding weekend holidays of September 26 and 27, the government has taken proactive steps to safeguard the banking needs of citizens," a Finance Ministry statement said.

Reducing What Would Have Been a Five-Day Gap

This has helped to reduce the disruption in economic activity due to the timing of the strike, which otherwise would have stretched across five days since Saturday and Sunday were both bank holidays, a detail that underscores the practical logic behind opening banks specifically on this particular Sunday.

The Unions' Core Demands

The UFBU and certain other unions of public sector banks as well as Regional Rural Banks have called for a series of strikes in support of their demand for implementation of a five-day banking week, and withdrawal of the Performance Linked Incentive (PLI) scheme. Currently, bank staff get two Saturdays off in a month, but bank unions want the remaining two Saturdays to be off as well.

Customer Welfare as the Government's Priority

The Finance Ministry said that the welfare and convenience of bank customers remains the government's foremost priority. 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 uninterrupted, the statement added.

A Direct Appeal to Bank Employees

The government has appealed to employees of public sector banks and regional rural banks to call off their proposed strike, as the government has already fulfilled one of their main demands by holding the PLI scheme in abeyance.

A Concession Already Made

Taking due note of the concerns raised, the government, after detailed discussion, decided to keep the PLI scheme in abeyance. This proactive initiative by the government fulfilled one of the two main demands of the unions, the Finance Ministry had said, framing this as a genuine, substantive response to the unions' concerns rather than a purely symbolic gesture.

A Final Appeal for Dialogue

"Given that most concerns of the unions have been substantially addressed, that the remaining demand continues to be examined, and that the government continues to proactively introduce welfare measures for the banking workforce, bank employees are urged to refrain from resorting to strikes, work towards resolving issues through dialogue, and ensure that banking services remain uninterrupted," it said, closing with a direct call for the unions to reconsider the planned strike given the progress already made on their demands.

Key Highlights:

• RBI has approved all bank branches, ATM-link branches and Currency Chests to remain fully operational on Sunday, September 27.
• The move aims to reduce disruption from the proposed three-day UFBU strike from September 28-30, which coincides with the preceding weekend holidays.
• Without this measure, the disruption would have stretched across five days since Saturday and Sunday were already bank holidays.
• Unions are demanding a five-day banking week and withdrawal of the Performance Linked Incentive (PLI) scheme.
• The government has already placed the PLI scheme in abeyance, addressing one of the unions' two main demands, and has urged them to call off the strike.

A Move to Limit Disruption Ahead of the Strike

In order to minimise disruption to the genuine banking needs of the public, the government has directed public sector banks to stay open on Sunday, a day before the start of the proposed three-day countrywide strike by bank staff from September 28 to 30.

RBI Approval for Sunday Operations

The Reserve Bank of India has granted approval for all bank branches, offices, ATM-link branches, and Currency Chests to remain fully operational on Sunday, September 27, ensuring that essential banking infrastructure remains accessible to the public just ahead of the strike period.

Coverage Across Public Sector and Regional Rural Banks

All public sector banks and Regional Rural Banks will function normally on Sunday, the Finance Ministry said, indicating that this measure applies broadly across the government-owned banking sector rather than being limited to select institutions.

The Reasoning Behind the Decision

"In view of the proposed three-day nationwide bank strike called by the United Forum of Bank Unions (UFBU) from September 28 to 30, coinciding with the preceding weekend holidays of September 26 and 27, the government has taken proactive steps to safeguard the banking needs of citizens," a Finance Ministry statement said.

Reducing What Would Have Been a Five-Day Gap

This has helped to reduce the disruption in economic activity due to the timing of the strike, which otherwise would have stretched across five days since Saturday and Sunday were both bank holidays, a detail that underscores the practical logic behind opening banks specifically on this particular Sunday.

The Unions' Core Demands

The UFBU and certain other unions of public sector banks as well as Regional Rural Banks have called for a series of strikes in support of their demand for implementation of a five-day banking week, and withdrawal of the Performance Linked Incentive (PLI) scheme. Currently, bank staff get two Saturdays off in a month, but bank unions want the remaining two Saturdays to be off as well.

Customer Welfare as the Government's Priority

The Finance Ministry said that the welfare and convenience of bank customers remains the government's foremost priority. 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 uninterrupted, the statement added.

A Direct Appeal to Bank Employees

The government has appealed to employees of public sector banks and regional rural banks to call off their proposed strike, as the government has already fulfilled one of their main demands by holding the PLI scheme in abeyance.

A Concession Already Made

Taking due note of the concerns raised, the government, after detailed discussion, decided to keep the PLI scheme in abeyance. This proactive initiative by the government fulfilled one of the two main demands of the unions, the Finance Ministry had said, framing this as a genuine, substantive response to the unions' concerns rather than a purely symbolic gesture.

A Final Appeal for Dialogue

"Given that most concerns of the unions have been substantially addressed, that the remaining demand continues to be examined, and that the government continues to proactively introduce welfare measures for the banking workforce, bank employees are urged to refrain from resorting to strikes, work towards resolving issues through dialogue, and ensure that banking services remain uninterrupted," it said, closing with a direct call for the unions to reconsider the planned strike given the progress already made on their demands.