The Finance Ministry has convened a meeting on Monday with the chief executives of public sector banks (PSBs), regional rural banks (RRBs), the Indian Banks' Association (IBA), and NABARD to review preparations and contingency plans ahead of the proposed three-day nationwide bank strike starting September 28.

Chaired by the Secretary of the Department of Financial Services (DFS), the meeting is expected to focus on measures to ensure the continuity of banking services and the availability of essential services for customers during the strike.

Officials may also discuss contingency arrangements to minimize disruptions, particularly given that the proposed strike coincides with the banks' half-yearly closing period.

The strike has been called by the United Forum of Bank Unions (UFBU), an umbrella body comprising seven bank employee and officer unions.

The unions have raised several demands, with the implementation of a five-day banking week emerging as a key issue. The UFBU had previously organized a nationwide strike on September 11 over this very demand.

The previous strike had affected counter services, cash transactions, and cheque clearances at bank branches across various parts of the country.

While banking operations in Mumbai remained largely normal, disruptions were reported in several states, including Madhya Pradesh, Goa, Telangana, Uttar Pradesh, and West Bengal; the impact was particularly visible in smaller cities and towns.

In addition to the five-day work week, the unions are demanding improvements in pension benefits, the implementation of a uniform Dearness Allowance (DA) formula for pensioners, and an option for employees covered under the National Pension System (NPS) to switch to the Old Pension Scheme. The UFBU claims to represent approximately 90 percent of the country's banking employees.

The proposed strike could have a significant impact on customers, as September 26 and 27 fall on the weekend. Consequently, normal branch operations could be disrupted for five consecutive days, from September 26 to 30. This has raised concerns regarding cheque processing, cash transactions, and other branch-dependent services.

The unions had issued a strike notice on August 26. Subsequently, conciliation meetings were held involving union representatives, the IBA, and government officials. However, the talks failed to yield a concrete solution regarding the demand for a five-day banking week.

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