Bank branches across the country will be on a three-day strike from September 28 to 30, which may disrupt services that require branch visits and manual processing. However, public sector banks and regional rural banks remained open on Sunday, September 27, giving customers an opportunity to complete important branch related work before the strike began. The strike is taking place just days before the close of half-yearly financials on September 30. Public sector banks and regional rural banks are expected to be the most affected, while private sector banks are likely to face comparatively less disruption.

Which banking services may be affected?

1. During the strike, customers may face difficulties with services that require branch staff or physical documents.
2. Over the counter cash deposit and withdrawal facility will not be available in the affected branches. Physical passbook update and other branch-based services may also be delayed.
3. Check processing and transactions requiring manual processing may take longer. Customers will not be able to take new demand drafts from the branches during the strike.
4. Those requiring in-person KYC, account update or document verification may have to wait till branches reopen.
5. Loan applications, documentation and verification, which require branch staff, may also be delayed.
6. Access to physical bank lockers will not be available during branch closure.
7. The strike may also affect some internal banking operations as banks move towards the half-yearly financial closure on September 30.

Will UPI, ATM and Mobile Banking work?

1. The strike is expected to mainly affect branch operations, while digital banking and self-service facilities are expected to continue.
2. UPI payments, mobile banking and internet banking services are expected to be available for everyday transactions like fund transfers and bill payments.
3. ATMs are also expected to remain operational, although cash availability may vary depending on local cash replenishment conditions. Cash deposit machines may continue to accept deposits where the facility is available.
4. Less disruption is expected at private sector banks, but customers should check their bank’s advice before visiting a branch.

Why do banks open on Sundays?

To mitigate the impact of the three-day strike, the government allowed public sector banks and regional rural banks to function normally on Sunday, September 27. The finance ministry said banks, offices, ATM branches and currency chests will remain open with the approval of the Reserve Bank of India.

For customers who have pending cash related work, paperwork, KYC requirements or any other service required by the branch staff, Sunday may be the last chance to complete these tasks before the strike starting from Monday, however, this will depend on the local branch arrangements.