Banks open on Sunday see brisk turnout ahead of 3-day strike
Bank branches across India remained open on Sunday to accommodate customers ahead of a three-day nationwide strike called by the United Forum of Bank Unions. The strike, which demands a five-day work week and pension revisions, has led to a surge in transactions at public sector banks.
Why it matters
The strike could cause significant disruption to banking services for the general public and businesses across the country.
Sunday was a busy day for the banks across Visakhapatnam district and other parts of the State ahead of the three-day nationwide bank strike called by the United Forum of Bank Unions (UFBU) from September 28-30.
The Reserve Bank of India (RBI) had approved the functioning of all Public Sector Banks (PSBs) and Regional Rural Banks (RRBs) branches, along with ATMs, ATM-linked outlets and currency chests, on Sunday, a step intended to cushion the impact of the strike coinciding with the preceding weekend holidays of September 26 and 27.
The UFBU, an umbrella body of seven unions, is pressing chiefly for a five-day working week for banks, besides other issues such as pension revision and staff recruitment.
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