Update on 24 September 2019: Following the discussions of the Government with the Bank Unions, the unions have decided to defer the 2-day strike. Banks will continue to work as usual on 26 & 27 September.
A message is currently going viral on several social media platforms that banks are continuously closed from 26th September 2019 to 30th September 2019. The message requests people to plan accordingly. Let’s find out if the bank are really closed all through the mentioned dates.
Claim: Banks are closed continuously from 26th September 2019 to 30th September 2019.
Fact: Not all bank employees are involved in the strike announced on 26th and 27th September 2019 and there is no Half Yearly Closing holiday for banks on 30 September 2019. Hence, the claim that all banks are continuously closed for 5 days is Misleading.
While it is true that four bank unions namely, All India Bank Officer’s Confederation (AIBOC), All India Bank Officer’s Association (AIBOA), Indian National Bank Officer’s Congress (INBOC) and National Organisation of Bank Officers (NOBO) have given a strike call from the midnight of 25th September to midnight of 27th September protesting against the amalgamation of 10 public sector banks announced by Finance minister on 30 August 2019, not all bank employees may participate in the strike and the private banks may be functioning normally.
State Bank of India (SBI) in its regulatory filing said “While bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our bank may be impacted to some extent by the strike“
Another day claimed as holiday in the post is 30 September 2019 owing to
Banks’ half-yearly closing of accounts. The list of Holidays on the RBI website does not list 30 September 2019 as a Holiday. While the the banks are closed on the 1st of April every year due to yearly closing of accounts, there is no such holiday for half yearly closing of accounts.
To conclude, public sector bank operations may be affected due to the strike call given by four unions but operations will run normally on other days.
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