All banks to remain open coming Sunday, Centre approves RBI order

NEW DELHI: All banks across the country will remain open and function on Sunday, September 27. The Ministry of Finance said that the Reserve Bank of India (RBI) has been authorized to issue an order in this regard. The central government took the decision in view of the three-day strike announced by bank employees from September 28.

The United Forum of Bank Unions (UFBU), a joint organization of bank employees, has announced a strike from September 28 to 30. Since the two days immediately preceding the strike are fourth Saturday and Sunday, banking services would otherwise have been disrupted for five consecutive days. It is against this backdrop that the central government decided to keep banks open on Sunday. According to a government notification, public sector banks as well as regional and rural banks will function normally on Sunday.

Internet banking services through mobile phones will continue to be available during the strike period. The UFBU's main demand is to implement a five-day banking week by declaring Saturdays as full holidays. The strike was announced after talks with the Deputy Chief Labour Commissioner failed. Other demands include withdrawing or amending the revised Performance Linked Incentive (PLI) scheme through bilateral negotiations and resolving existing issues.

However, the Ministry of Finance said that several measures are being implemented for the welfare of bank employees and that the issue of a five-day banking week is under the government's consideration.