Why are banks open this Sunday? Here's what prompted govt to keep banks open on Sept 27 | India News

The government has instructed banks to remain open on Sunday, September 27, ahead of the three-day nationwide bank union strike.The order came after the United Forum of Bank Unions (UFBU) announced a three-day strike following an inconclusive conciliation meeting with the deputy chief labour commissioner earlier this week. The meeting took place a day after the finance ministry urged bank employees to call off the strike and address their outstanding demands through dialogue.Also Read | Central govt employees to be paid early this month ahead of bank strike: Check details To reduce the inconvenience for customers during the strike, the government has decided that Public Sector Banks and Regional Rural Banks will remain operational on Sunday. The RBI has also approved the operation of bank branches, offices, ATM-linked branches, and currency chests on Sunday. Additionally, central government employees will get their September salaries, wages and pensions in advance ahead of a proposed bank strike, the finance ministry said on Wednesday.What is the UFBUThe United Forum of Bank Unions (UFBU) is an umbrella body representing seven major bank unions: AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC.Also Read | Bank unions announce 3-day strike from Sept 28, demand 5-day work weekThe UFBU, which claims to represent around 90% of the banking workforce, has been campaigning for the implementation of a five-day banking week for several years.The unions have been raising their demands publicly since at least 2023, with posts on their official X accounts highlighting the issue and pressing for its implementation.What are their demandsAt the heart of the dispute is the delayed implementation of a five-day banking week, which unions say was agreed upon in the March 8, 2024, Settlement and Joint Note.The United Forum of Bank Unions (UFBU) is also seeking changes to, or the withdrawal of, the Performance Linked Incentive (PLI) scheme through bilateral negotiations. Alongside this, unions are demanding the immediate resolution of pending service-related issues, citing increasing workloads, staff shortages, and mounting compliance pressures.Also Read | Bank strike September 28-30: SBI advises customers to complete work in advance, check available servicesOn September 11, around 10,000 employees across 905 public sector bank branches participated in the strike, disrupting banking transactions estimated at ₹2,500 crore.If the issues remain unresolved, the unions have warned of an indefinite nationwide bank strike from October 26, which could lead to significant disruptions to banking services across the country.(With inputs from PTI/ANI)