No life without Sun
You see, there will be a small temporary loss of business for the banks, and it will not affect them much. Only credit decisions may be postponed by a day or two.
Coming to loss to the banking, online services and ATM services will be there without any interruptions. But physical banking is not possible. It may give some loss to the bank. But comparing this and demonetization is not correct, as far as I am concerned.
If the rules, regulations and procedures allow imposing of ESMA on banking services then Govt can very well impose it. If not, the bank employees will go to the court against the Govt and the Govt will lose it in the legal battle.
Please remember, no action can be taken against any entity without a proper legal framework for it. In such cases, the only person who suffers is a common man who due to some emergency wanted his bank job today and can not wait for two days.
I am not sure whether Govt can deduct salary for these two days or not. We must remember that many banks are owned by Govt only and until unless Govt takes a firm stand on these in-house indisciplines, things are not going to improve.
In a recent privatization move of Govt for an ailing state electricity board, the employees put such a strong resistance that in a few weeks Govt withdrew its proposal.
Sometimes it appears as if might is right. The strong unions will not allow the Govt to go ahead with the restructuring and reorganizing plans.
Knowledge is power.
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease
In comparison a strike of a day or two in banks today with much online facilities, does not affect so much, though any work stoppage anywhere can affect people who use that service.
The bank strike is within the permitted ambit of trade union functioning having given sufficient advance information and resorted to only after the negotiations and discussions with management (and sometimes labour officers) have failed. The strike is definite and for two days now.
However even in the banking sector, if things go beyond control, or the strike goes indefinitely causing large scale effect, then the governments have sufficient powers to step in and take needed measures.
Unlike in strikes happening in state governments or other organisations, striking bankers lose their wages for those days under 'dies no' no work, no pay. There is no negotiation for giving those wages back as done and condoned in certain other sectors or organisations.
Bank employees get wage revision once in five years under 'bipartite settlements'. That five years is over by last November 2017. That is why the employees have to go on strike now, when many discussions did not yield much result.
The employees now fear that the managements and governments may use the bogey of losses and huge NPAs for avoiding wage negotiations and may try to bring backdoor methods .
Some of us would do online transactions etc, what about the business people who would have to handle cash, deposit a cheque etc. What about the people who do not have a credit/debit card and need to withdraw money?
So, yes it should be possible but the negotiations should be held until the last minute to get things agreeable.