Banks likely to remain closed for 4 consecutive days next week

Mumbai: If the two-day strike planned by the officers’ unions materializes then most bank branches in India would be closed for four consecutive days from September 26 to 29.

Four officers’ unions of public sectors banks have called for a two-day strike, starting September 26 to protest against the recently-announced mega-merger of 10 state-run banks into four banks. September 28 being the fourth Saturday of the month is a bank holiday and the banks are slated to reopen for business only on Monday, September 30.

Bank customers can take some solace in the fact that internet banking and online RTGS/NEFT/IMPS/UPItransfers will be available on Thursday and Friday as the strike is not a bank holiday. However, there is a likelihood of ATM services getting affected during the period.

As per the mega-merger plan announced by the government, United Bank of India and Oriental Bank of Commerce are to be merged with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).

Syndicate Bank is to be merged with Canara Bank, while Allahabad Bank will be merged with Indian Bank. Andhra Bank and Corporation Bank will amalgamate with the Union Bank of India.

Earlier this year, Bank of Baroda merged Vijaya Bank and Dena Bank with itself to become the second largest public sector lender.