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Bank strike meets half-year closing: Why September 30 matters

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Bank strike meets half-year closing: Why September 30 matters

Without the additional Sunday working day, customers would face the fourth Saturday holiday on September 26, Sunday on September 27 and the proposed three-day strike from September 28 to 30, effectively creating five consecutive days of disruption to branch-based banking services.

Reconciliation, provisioning, treasury and market operations could face disruption. Banks have been asked to ensure adequate cash availability through ATMs and business correspondents. Digital banking channels including internet banking, mobile banking and UPI are expected to remain available.Cheque clearing, settlements and other branch dependent services could face delays during the strike.

Public sector banks and regional rural banks will function normally on Sunday, September 27, to give customers an additional banking day before a proposed three-day nationwide strike from September 28 to 30, with the timing particularly sensitive because September 30 is the half-yearly closing date for banks. The decision is aimed at preventing an extended disruption after the proposed strike follows the weekend holidays on September 26 and 27. The Ministry of Finance said all Public Sector Banks and Regional Rural Banks will operate normally on September 27, while the Reserve Bank of India has approved all bank branches, offices, ATM-linked branches and currency chests to remain fully operational that day. Advt

Without the additional Sunday working day, customers would face the fourth Saturday holiday on September 26, Sunday on September 27 and the proposed three-day strike from September 28 to 30, effectively creating five consecutive days of disruption to branch-based banking services. The United Forum of Bank Unions has called the strike primarily over the demand for a five-day banking week.


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