The United Forum of Bank Unions (UFBU), representing bank officers and staff across India, has confirmed a nationwide bank strike on September 11. The main demand is the introduction of a five-day banking workweek. Branch services may be affected, while UPI, ATMs and other digital services are expected to continue. Here’s what customers need to know.
Reconciliation talks between government representatives and the United Forum of Bank Unions (UFBU) ended without an agreement. Bank union leaders refused to call off the September 11 nationwide strike, demanding a clear implementation date for their key workplace reforms. (File photo)
Unions are demanding a mandatory five-day workweek, proposing slightly extended daily operating hours from Monday to Friday to compensate for Saturdays. Though included in the March 2024 bipartite settlement, government approval and implementation remain pending. (File photo)
Physical banking services will face severe delays or shutdowns on September 11. Over-the-counter cash deposits, physical check clearances, in-person KYC verifications, and loan processing routines will be impacted across participating public and private sector bank branches. (Image: Moneycontrol)
Digital payment ecosystems will function normally during the strike. Customers can continue using UPI, mobile banking apps, internet banking portals, and cash withdrawals at local ATMs, provided no unexpected technical glitches or server maintenance issues occur. (File photo)
Government officials urged unions to defer the strike, citing operational sensitivities around the BRICS Summit hosted in New Delhi from September 11-13. However, unions refused to back down without concrete, written assurances on their core demands. (File photo)
Union dissatisfaction extends beyond working hours to the current Performance Linked Incentive (PLI) structure. Protesters argue that the scheme disproportionately favours senior management and executives, requiring a complete overhaul to ensure equitable distribution among all staff levels. (File photo)
The September 11 protest serves as an initial warning. If demands remain unaddressed, UFBU announced a 3-day nationwide strike from September 28-30, followed by a potential indefinite bank strike starting October 26 across the country. (File photo)
State Bank of India informed stock exchanges that it received the strike notice and has arranged operational contingencies across branches. While minor disruptions may occur, essential digital services will remain active to serve customers. (File photo)
