Banks To Remain Shut For Four Days From Sept 26; Know Why

Representative Picture Courtesy: Rajya Sabha TV
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Several public sector banks across India will remain closed from September 26 to September 29 due to strikes and holidays.

The All India Bank Officers’ Confederation (AIBOC), All India Bank Officers’ Association (AIBOA), Indian National Bank Officers’ Congress (INBOC), National Organisation of Bank Officers (NOBO) have called for a two-day strike from September 26 to oppose merger of 10 public sector banks into four.

While September 28 is the last Saturday of the month and the following day is a Sunday.

As a result, banks will remain closed for four consecutive days.

On August 30, Finance Minister Nirmala Sitharaman had announced merger of Punjab National Bank, Oriental Bank and United Bank into second-largest PSU Bank in India.

The plan also involves merger of Canara Bank and Syndicate Bank; Union Bank of India, Andhra Bank and Corporation Bank; and Indian Bank and Allahabad Bank.

The Bank of India and Central Bank of India would remain independent, the Finance Minister had added.