00:00PSU banks may be shut for five days straight because there's a strike that has been called by the employees.
00:06It's a three-day strike plus the weekend. So five straight days the banks may be shut this month.
00:12So this includes two-day weekend and three-day strike.
00:16So PSU bank employees will be on a strike from September 28th to September 30th, which is next Monday to
00:23Wednesday.
00:24Banks will be shut on September 26th and 27th also because it's Saturday and Sunday.
00:30It's the weekend. So five days straight.
00:32Employees of the PSU banks are threatening strike.
00:35The customers have also been advised to complete their banking services and whatever action they have to take by September
00:4325th
00:44because there's an indefinite strike also which is proposed.
00:47But that is next month. That has been proposed from October 26th.
00:51The unions are demanding, the bank unions are demanding five-day banking week.
00:56They are also demanding withdrawal of the PLI scheme.
01:00And they are saying that the government has already kept the PLI scheme in abeyance
01:03and that should be completely, there should be complete withdrawal of the scheme.
01:08We're also learning that ATMs, UPI and digital banking are expected to be available even when the employees are on
01:16strike.
01:17But it is cash deposits and withdrawal. Those services may be hit.
01:22Check clearance, loan processing services may also be hit.
01:25And there's this alert of a bank strike.
01:28The customers have been asked to complete their branch work by September 25th, which is Friday of this week.
01:35My colleague Ashutosh Mishra is now joining us for more details on this.
01:39Ashutosh, give us more details on the demands which are being raised by the bank unions,
01:43by the employees for which they have called this strike, this three-day strike.
01:50The key demand is that the implementation of five-day banking system
01:54and withdrawal of performance-linked incentive, the PLI scheme.
01:58So, in fact, the government also said that since the government did meet the stakeholders,
02:03the Banking Employee Association, the United Forum of the Bank Unions, on their key demands.
02:08So, even though they said that implementation of these, the government is considering.
02:13However, on the 11th of September, there was already a meeting.
02:15And they said a further three-day strike, which is scheduled from 28th to September.
02:19And that is likely to affect the banking services.
02:22The government says that this should be reconsidered.
02:25And the importance of bank employees, the government is taking these measures.
02:29So, when they say the transparency, welfare, salary allowance, everything has been improved.
02:34And in that case, the government, you know, the Banking Employees Association and these organizations must consider.
02:40The government says as far as the PLI scheme is concerned, they have positively considered it.
02:44As far as five-day working demand, that's also under consideration.
02:47And since there is already negotiation, the talks are underway.
02:50But in the meanwhile, the banking, if you see, almost all these bank unions,
02:54they are sending SOS messages to the consumers, including one that I received from Punjab National Bank,
02:58which say that three-day strike is scheduled from 28th to 30th of September.
03:02And it is our endeavor to ensure all-time availability of all the digital channels, ATM, mobile banking.
03:08However, they say we also need to meet your expectations.
03:12We also advise to visit the branches.
03:15So, the banks, basically the banking system and the banking organizations, associations,
03:18have asked the consumers and the people to complete their all-banking requirements
03:24before 26th of September to avoid any inconvenience due to strike.
03:29Now, you rightly mentioned that likely all the digital channels' transactions
03:33is likely to be unaffected, including ATM.
03:35However, when there is a banking strike, it has certain ramifications.
03:39And often when there is case of emergency, people require certain funding or banking operations.
03:44That is likely to be affected.
03:45The government indeed is worried.
03:47They have appealed these organizations to reconsider the decision of going with a 3-day strike.
03:51That really means a lot for the entire banking system and the people who are dependent on it.
03:55So, we'll have to see further how they develop.
03:57But as of now, the strike is on plan.
04:01And the banking systems are now sending messages to the consumers
04:04to take all the preventive measures, do all your consultations and requirements
04:08until 26th of this month.
04:09Anjali.
04:10All right, Ashutosh.
04:11Thank you so much for all those details.
04:13So, there could be a five-day bank bunt because the bank employees have called for the strike.
04:21Three-day strike plus also the weekend.
04:23So, a five-day bunt for the PSU bank.
04:26So, there's this alert.
04:27Let's take a look at when will this start, on which days the banks will be shut.
04:33So, on September 26th, it's the 4th Saturday.
04:36So, it's a bank holiday.
04:37On September 27th, it's Sunday.
04:39So, it's a bank holiday.
04:40Now, from September 28th, which is Monday, till September 30th, which is Wednesday,
04:45there's a three-day strike that has been called by the bank's union.
04:48And they are demanding two of the key demands.
04:51Firstly, they are demanding a five-day working week.
04:54And secondly, they are also demanding the withdrawal of the PLI scheme because they are saying that the government has
05:00already kept it in abeyance.
05:02Then, what is the point of having it?
05:05So, completely withdraw the PLI scheme.
05:08And let's also understand that how will this have an impact on you?
05:12How will this bank strike impact you?
05:15So, physical branch banking, that will be shut.
05:20Cash deposits and withdrawals at counters, that will be affected because that will not be available because the banks will
05:27be shut.
05:28Check clearance facility will also be impacted.
05:30Loan processing services will also be impacted.
05:34But UPI payments, that will remain functional.
05:36The mobile and internet banking, that will also remain functional.
05:40And in fact, the ATMs will also be working.
05:42They will also remain functional.
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