Banking paralysis: Holiday- strike combo to stall banking services in UP
Lucknow, September 23: Banking services in Uttar Pradesh are likely to be affected for several consecutive days in the last week of September. A nationwide bank strike is planned for September 28, 29, and 30, called by the United Forum of Bank Unions (UFBU).
Prior to this, regular bank branches will remain closed on September 26 due to being the fourth Saturday and September 27 being a Sunday. Consequently, normal branch services are likely to be affected for five consecutive days between September 26 and 30.
During the strike, cash transactions, check-related work, loan-related processes, and customer-facing services at bank branches may be affected. There is currently no official estimate available on the total amount of business affected by this strike in the state.
However, during the previous one-day bank strike on September 11, business worth approximately ₹2,500 crore was reported to have been affected in Lucknow alone. Transactions worth approximately ₹800 crore were also reported to have been affected in Varanasi.
Bank union official Pushpankar Jain stated that a five-day banking system is one of the employees’ main demands.
According to him, a proposal for necessary adjustments in working hours to implement a Monday-to-Friday banking system has been submitted to the government for approval, but a final decision has not yet been made.
He added that the union’s demands include addressing pending pension issues and improving the performance-based incentive (PLI) system. The incentive system demands equal opportunities and clear criteria for employees and officers. The union maintains that PLI should be determined based on the bank’s collective performance.
Due to the half-yearly financial closure on September 30, the processes related to financial records and accounts are also carried out in the banking institutions during this period. In such a situation, due to the strike, two days of regular holiday and half-yearly closure falling together, there is a possibility of increase in the pending work in the bank branches in the last days of the month.
The strike is likely to mainly affect the physical work done in the branches. UPI, mobile and internet banking and ATM services are expected to remain operational. However, if the work of the branches is affected for five consecutive days, there may be delay in services like cash filling in ATMs and cheque clearance in some areas.
Bank customers have been advised to complete any necessary branch visits before the strike begins. Especially for cash needs, check deposits, and other important tasks related to loans or other financial documents, completing them in a timely manner can help avoid potential inconvenience during the strike.
