As public and rural banks are expected to go on a three-day strike following their demand for a 5-day work week, September salary payments for government employees across the country may be disbursed earlier than expected.
Finance Ministry, in an office memorandum dated September 23, announced that salary/wages/pensions for all industrial employees of central government, including those working in the Defence and Posts & Telecommunications sectors, will be disbursed on Friday, September 25.
Who will receive the payments?
Central government employees and pensioners will receive their September payment on Friday, and the disbursed amount will be treated as an advance payment, the ministry said in a memorandum.
It added that the remuneration will be treated as advance payments and will be subject to adjustment after the recipient’s full month’s compensation is determined. If changes are to be made, they will be adjusted from the employee/pensioner’s next month’s wage.
Ministry clarified that other banking transactions will also be processed in advance in order to avoid delays and disruptions.
Banks open on Sunday
In a rare instance, Indian public and rural banks will be open across the country on Sunday, September 27, as the United Forum of Bank Unions (UFBU) announced a nationwide strike from September 28 to 30 seeking a five-day work week.
Additionally, lenders will also be closed on Saturday, September 26, as it happens to be a fourth Saturday. This means that after Friday, public financial institutions will open on Sunday and then be closed for three consecutive days.
In view of the same, customers are advised to check with their local branches and plan their banking appointments accordingly. While lenders will remain shut, other operations like ATM services, UPI channels, and digital banking operations are expected to continue as per their usual schedule.