'There is no clarity': UFBU questions RBI move to open bank branches on Sunday, September 27

The United Forum of Bank Unions (UFBU) on Wednesday, questioned the Reserve Bank of India’s decision to allow bank branches and currency chests to operate on Sunday, September 27, saying there was no clarity on whether the day had been declared a working day for banking transactions.

In a circular dated September 23, the UFBU said it had come across a letter from the RBI addressed to the Indian Banks’ Association (IBA), granting permission for bank branches and currency chests to operate on September 27.

The development comes ahead of the three-day nationwide bank strike called by the UFBU from September 28 to 30. The strike follows the weekend holidays on September 26 and 27.

The UFBU said different banks were issuing different instructions following the RBI communication and questioned the scope of banking operations planned for Sunday.

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“There is no clarity whether 27th is declared as a working day under the Negotiable Instruments Act,” the unions said.

It also said there was no clarity on whether banks had been permitted to conduct all banking business or whether the move was limited to activities such as replenishing ATMs and operating currency chests.

The UFBU said it held an urgent online meeting at 10 pm on September 23 to discuss the issue. It decided to seek details of the instructions being issued by individual banks and subsequently take up the matter with the IBA.

The forum said it would keep its affiliated units informed about further developments.

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Meanwhile, the Finance Ministry said all public sector banks and regional rural banks would remain open on Sunday, September 27, for the convenience of customers.

The ministry said the decision had been taken in view of the proposed three-day nationwide strike from September 28 to 30, which coincides with the preceding weekend holidays on September 26 and 27. It said the RBI had approved the operation of all bank branches, offices, ATM-linked branches and currency chests on Sunday.

The Finance Ministry also said the government and bank managements had appealed to the unions to defer the proposed strike and had taken measures to ensure that essential banking services continue uninterrupted.