RBI employees on two-day strike from tomorrow, Will it Impact Banking Operations? Know here

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Two-day mass casual leave of the United Forum of Reserve Bank Officers and Employees (UFRBOE) over their pension demands, will begin from tomorrow, that is September 4. It will, however, not impact day-to-day operations of public or private sector banks.

“UFRBOE has called the mass casual leave on September 4 and 5 which will be participated by all officers, paralysing the central bank’s functions for two days,” UFRBOE member and All India Reserve Bank Employees Association General Secretary Samir Ghosh told reporters last week.

“It’s only the RBI employees who are going on mass casual leave on September 4-5 for demands related to to Provident Fund and pension.This will not have much impact on the day-to-day operations of the other public and private sector banks,” National Organization of Bank Workers Vice President Ashwani Rana said.

“The message going around in the social media that banks will be closed for six days in the first week of September due to holidays and bank strike is not correct,” Rana said on a WhatsApp message that went viral, that banking operations will be affected for a week, from September 1 to September 5.

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Samir Ghosh said, “ATM Services will not see much impact. But it will seriously affect RTGS & NEFT operations thereby it will affect big payments, business transactions, stock markets etc.”

The Finance Ministry also come out with a clarification, “It has come to notice that a rumour is circulating in several sections of the social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public.”

“It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September. Banks will only observe holidays on Sunday, 2nd September and second Saturday, 8th September. Monday, 3rd September is not a pan India holiday and banks only in some States where a holiday is declared under the Negotiable Instruments Act, 1881 will remain closed.”

“Even on those days, ATMs in all States will be fully functional and there will be no impact on online banking transactions. Banks have been advised to ensure that sufficient cash is available for dispensation from ATMs. Banks will remain open on all other days.”

Most banks in north India would remain closed on account of Janmashtami, on September 3, Monday.

This is expected to be followed by a bank strike called by RBI employees, on September 4 and 5.

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