Bank unions will go on a nationwide strike from Monday, disrupting banking services such as cheque clearance, cash withdrawals and deposits.

The impact will be felt primarily at public sector banks, old generation private sector banks and regional rural banks. Digital banking and other online services, however, are likely to remain available.

Branches of new generation private sector lenders like ICICI Banks, HDFC Bank, and Axis Bank will remain open during those three days.

Public sector banks and other institutions have issued an advisory to their customers about the strike and impending inconvenience to their customers.

In its advisory to customers, the State Bank of India (SBI) said while the lender will make every effort to provide essential banking services at their branches and offices, certain services may be affected during the strike period, which may inconvenience valued customers.

"Customers are therefore requested to complete their essential banking transactions well in advance of the proposed strike dates to avoid any inconvenience. Customers are also requested to make use of ATMs/ADWMs for thelr cash requirements and utilise YONO, Internet/Mobile Banking, UPI and other digital channels for their banking needs, wherever possible," it said.

The three-day strike follows one-day nationwide strike observed on 11 September.

Who has called for the strike

The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body representing seven bank employees' and officers' unions.

The UFBU has also threatened to go on indefinite strike from 26 October, if their demands are not met.

What are the demands

The demands include a five-day working week and resolution of other pending demands, including the updation and improvement of pension benefits, a uniform dearness allowance formula for all pensioners and an option for employees covered under the National Pension System (NPS) to switch to the Old Pension Scheme (OPS).

The demand for a five-day banking week has remained unresolved for several years. During recent conciliation meetings before the Chief Labour Commissioner, the government did not give any commitment on implementing the five-day working week, union leaders said.

"Agitation has been forced on the unions due to the actions of the government and management," said Rupam Roy, general secretary of the All India Bank Officers' Confederation (AIBOC).

Unions have argued that a five-day working week is already followed by several government and financial institutions.

"A five-day working week is already followed by central and state government offices, the RBI, LIC, GIC, NABARD and several other institutions. The stock market, money market and foreign exchange market also function on a five-day basis," said L Chandrasekhar, general secretary of the National Confederation of Bank Employees (NCBE).

What has the government said

The finance ministry earlier this week appealed to bank employees to refrain from resorting to strikes and resolve their remaining demands through dialogue, saying most concerns of the unions have been substantially addressed.

"Given that most concerns of the unions have been substantially addressed, that the remaining demand continues to be examined, and that the government continues to proactively introduce welfare measures for the banking workforce, bank employees are urged to refrain from resorting to strikes, work towards resolving issues through dialogue, and ensure that banking services remain uninterrupted," it said.

It also said one of the main demands of the unions that is withdrawal of the performance-linked incentive (PLI) scheme was put in abeyance earlier this month after detailed discussions.