PSU banks waive excess ATM fees during September 28–30 strike
State Bank of India, Punjab National Bank, Bank of Baroda and other public-sector lenders will waive charges for ATM withdrawals beyond free monthly limits during a three-day bank strike. Unions have also flagged an indefinite strike from October 26 if talks on a five-day banking week fail.
What happened
State Bank of India · State-owned Indian banks will waive excess ATM withdrawal charges during a September 28-30 employee strike, as banking closures could
Key facts
- Three-day bank strike: September 28-30
- Five free own-bank ATM transactions per month
- Three free other-bank ATM transactions in six metro cities; five in non-metro locations
- Maximum post-limit ATM charge: Rs 23 plus GST
- ATM interchange fee: Rs 19 for financial transactions and Rs 7 for non-financial transactions
- Indefinite strike announced from October 26
Why this matters
A sustained five-day-week dispute could accelerate partnerships in ATM networks, cash logistics and digital-payment adoption as banks and retailers seek resilience beyond branch access.
What to watch
- Outcome of bank-union negotiations on a five-day banking week before October 26.
- ATM availability, cash-out rates and reports of denomination shortages during and immediately after September 28–30.
- UPI transaction volumes, payment-failure rates and card-terminal uptime in affected regions.
- Retailer reports of delayed cash pickups, deposits, cheque clearing or merchant settlement support.
- Pre-strike increases in consumer ATM withdrawals and wholesale cash orders from small merchants.
- Increase ATM cash replenishment and denomination planning near retail clusters, transit hubs and markets.
- Encourage customers to use UPI, cards and retailer wallets; verify payment-terminal and network failover readiness.
- Raise cash-float limits selectively for stores with high cash usage, but tighten safe, pickup and end-of-day deposit controls.
- Map exposure to PSU-bank branches for cash deposits, cheque collections, payroll, working-capital drawdowns and merchant-service support.
- Prepare customer messaging on accepted payment methods and any cash-on-delivery or refund-processing contingencies.