Banking operations such as cheque clearing, cash deposits and withdrawals are expected to face disruptions for three days from Monday, September 28, due to a nationwide bank strike. While the strike could disrupt operations at physical branches, customers will still have access to several banking services through digital platforms, ATMs and alternative channels.
The United Forum of Bank Unions (UFBU), an umbrella body of seven bank unions and eight lakh employees, has called for a strike, seeking a five-day workweek and the resolution of other long-pending demands.
The strike is not expected to bring all banking services to a halt. Customers can continue making payments, transferring funds, checking account details and accessing several other facilities without stepping into a branch.
10 banking services customers can use during the strike
1. Make everyday payments with UPI
UPI transactions are expected to continue during the strike. Customers can use UPI to pay merchants, send money to family and friends and make eligible digital payments.
2. Send money through your bank’s app
Customers can transfer funds using mobile banking instead of visiting a branch. Eligible transactions can be completed through the bank’s application, subject to applicable limits and service availability.
3. Pay bills from home
Electricity, water, telephone and other utility bills can generally be paid digitally. Customers can use their bank’s mobile app, internet banking or UPI-enabled platforms for such payments.
4. Keep an eye on your account
There is no need to visit a branch simply to check how much money is in your account. Mobile banking applications and internet banking can be used to view balances and, where available, recent transactions.
5. Get cash from an ATM
ATMs are expected to remain available for cash withdrawals during the strike. However, customers should keep in mind that cash levels can vary depending on the location, withdrawals and replenishment schedules.
6. Try cash machines for deposits and withdrawals
Customers who need to deposit or withdraw cash can check for Automated Deposit and Withdrawal Machines (ADWMs) or similar facilities offered by their bank. Their availability and functionality will depend on the location and bank.
7. Use assisted banking points
Customers who require assistance can look for Customer Service Points or Business Correspondents operating in their area. Banks including SBI and Union Bank have advised customers to use such alternative channels where available.
8. Handle banking through internet portals
Internet banking can be used for a range of routine requirements, including fund transfers, bill payments and other account-related services offered by the bank.
9. Manage routine requirements on mobile
Banking apps now offer several services that once required a branch visit. Depending on the bank, customers can use the app for account management, payments, transfers and other everyday banking requirements.
10. Start a loan or credit card application online
Customers looking for a loan or credit card can check their bank’s website or app for digital application facilities. Many banks allow customers to begin the process and submit required information online.
Finance ministry urges unions to avoid strike
The finance ministry had earlier this week called on bank employees to call off strike action and settle their outstanding issues through discussions. It said a majority of the unions’ concerns had already been addressed, while the remaining demands were still being considered.
“Given that most concerns of the unions have been substantially addressed, that the remaining demand continues to be examined, and that the government continues to proactively introduce welfare measures for the banking workforce, bank employees are urged to refrain from resorting to strikes, work towards resolving issues through dialogue, and ensure that banking services remain uninterrupted,” it said, according to PTI.
The ministry also pointed out that the unions’ demand for withdrawal of the performance-linked incentive (PLI) scheme had been kept in abeyance earlier this month following detailed discussions.
Despite the government addressing one of the unions’ two key demands and continuing talks with employee representatives, bank unions proceeded with a one-day strike on September 11.