Sending money to India from UAE soon? Bank strike may delay some transfers

Residents of the UAE sending money to India towards the end of September might encounter delays in remittance transactions. A proposed nationwide bank strike scheduled from September 28 to September 30 could potentially disrupt transfers that require staff attention at Indian banks. The strike has not yet commenced, but there is no assurance that every UAE-to-India transfer will be impacted.

The delay will hinge on the remittance service, the receiving bank, and whether the transaction can be processed automatically. The United Forum of Bank Unions announced it would proceed with the three-day strike unless there is progress on its demand for a five-day banking week. Although talks on Tuesday did not yield an agreement, the Indian government and bank management have urged the unions to postpone the action.

India’s Ministry of Finance responded by announcing that public sector banks and regional rural banks will operate on Sunday, September 27, providing an additional day for customers to conduct banking activities before the proposed walkout. The Reserve Bank of India has authorized Sunday operations for branches, offices, ATM-linked branches, and currency chests.

For UAE residents, sending money before the strike does not automatically ensure the recipient can access it before Monday, as it depends on when the funds reach the Indian account and if the receiving bank completes any necessary checks. If you are transferring funds urgently, verify the delivery estimate provided by your UAE bank or exchange house before confirming the transfer.

Inquire whether the quoted time includes crediting the recipient's account, and retain the transaction reference for potential tracking purposes. Reports indicate that Indian banks have advised customers to utilize mobile banking, internet banking, ATMs, and UPI during the proposed strike, as these channels may remain accessible even with branch disruptions.

However, this does not guarantee the timeliness of an international remittance, which involves an additional transfer and receiving-bank process. The advisable course of action is to send time-sensitive money with a buffer before the strike and confirm its receipt by the recipient. If the payment can be delayed, monitor its status from your provider and the receiving bank before determining the optimal send time.

The unions might still choose to defer the strike, and the impact on individual transfers will become clearer once banks disclose their operational plans. Keep an eye on Gulf News as your preferred news source on Google to stay informed.