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Thursday, September 19, 2019

Bank strike call on Sept 26-27: SBI says normal business may be affected

Bank strike call on Sept 26-27: SBI says normal business may be affected

 

If the two-day strike planned by the officers' unions materialises then it could affect operations, country's largest lender State Bank of India (SBI) said on September 16. Four officers' unions of public sectors banks plan to protest against the recently-announced mega-merger of 10 state-run banks into four by going on a two-day strike starting September 26.


"While bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our bank may be impacted to some extent by the strike," SBI said in a regulatory filing.


The Indian Banks' Association (IBA) has informed SBI that the All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers' Congress (INBOC) and National Organisation of Bank Officers (NOBO) has given a call for a pan-India strike by bank employees on September 26 and 27, 2019.


our bank unions have announced a two-day strike, starting at midnight on 25 September and continuing till 27 September, to protest the merger of 10 major public sector banks announced by finance minister Nirmala Sitharaman last month. The four unions that have called for the strike are the All India Bank Officer's Confederation, the All India Bank Officer's Association, the Indian National Bank Officer's Congress and the National Organisation of Bank Officers.


According to current RBI rules, banks observe public holidays on the second and fourth Saturdays of the month. This means that banks will also be closed on 28 September, the fourth Saturday in September, making it a four-day break for banking services.


As a result, you will not be able to make deposits and withdrawals for four days and it might take considerably longer for cheques to get cleared. “The two-day bank strike, followed by two consecutive weekly offs will primarily impact cheque clearances, issuance of DD/PO, cash deposits/withdrawals and any other services availed at bank branches and ATMs. Banking consumers should work out their cash flows in advance and make adequate cash deposit or withdrawals before the bank strike," said Naveen Kukreja, CEO and co-founder




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Bank strike call on Sept 26-27: SBI says normal business may be affected

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