New Delhi | Banks in several parts of India will remain closed in the 1st week of September for 5 days due to the strike called by Reserve bank employees and a weekend followed by Janmashtami.
While most of the banks in India operate on the first Saturday, banks in few states operate half day or are closed on 1st September. All the banks will be closed on Sundays i.e 2nd September. On 3rd September i.e Monday banks across North India will remain closed on the account of Krishna Janmasthmi followed by a bank strike called by United Forum of Reserve Bank Officers and Employees (UFRBOE) when RBI employees are likely to go on a two-day mass casual leave on September 4 and 5.
RBI staff member strike will majorly affect the banking system of the central and other state banks across the country. The reason stated behind the strike is to provide an option to the retainers of the Contributory Provident Fund (CPF) to switch over to the pension scheme. The other demand of the forum is to grant additional provident fund (APF) to those recruited in the bank from 2012.
Banking Services like ATM transactions, deposit in branches, FD renewal, government treasury operation, money market operation will be majorly affected in this five days. However, online banking operations won’t be affected by this.
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