Customers have been assured that remittances from the UAE to India will not be disrupted by a proposed nationwide bank strike in the South Asian country.
The United Forum of Bank Unions (UFBU) has said it will go ahead with the strike from September 28 to 30, despite appeals from the Department of Financial Services, the Indian Banks’ Association and bank managements to defer it. The unions, which claim to represent 90 per cent of the banking workforce, are seeking a five-day banking week.
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“The proposed bank strike in India is not expected to affect our remittance services or cause delays to customer transfers. Our operations supporting remittances to India will continue as normal, while customers can use our digital channels 24/7 or visit any of our 290 branches across the UAE during regular operating hours. Around 30 per cent of transactions are completed digitally,” said Ali Al Najjar, CEO of Al Ansari Exchange.
The unions have also threatened an indefinite strike from October 26 if their demands remain unresolved after the three-day action.
Advisory
India’s Finance Ministry said all banks, including Regional Rural Banks, will remain open on Sunday, September 27, to ease pressure on customers, with the Reserve Bank of India approving full operations at branches, ATM-linked offices and currency chests.
Banks in India have advised customers to use mobile banking, ATMs, internet banking, BC Points and UPI if the strike goes ahead, and to complete essential transactions early.
The State Level Bankers’ Committee of India also advised customers to plan their banking transactions in advance and make maximum use of digital and alternative banking services.
It directed all member banks in the state to take necessary measures to ensure the uninterrupted availability of digital banking services and adequate cash availability at ATMs.
The committee, in a statement, also urged customers to complete any banking transactions that require physical visits to branches before the strike period.
Monitoring situation
Al Najjar added that the UAE is India’s second-largest source of remittances, accounting for 19.2 per cent of inward remittances reported by banks.
According to World Bank, India received $150.71 billion in remittances last year, up from $137.67 billion in 2024.
“We expect the UAE–India corridor to remain a major remittance route,” he said.
He added that Al Ansari Exchange “will continue to monitor transfer activity throughout the period”.
Al Najjar advised customers to verify beneficiary details before making a transfer, particularly for time-sensitive payments using its instant transfer services.
Source: Khaleej Times