New Delhi, Sep 26: Customers of several public sector and old-generation private sector banks have been advised to complete important banking transactions in advance as bank employees’ unions prepare for a three-day nationwide strike starting September 28. The proposed strike is expected to disrupt branch operations across many banks and coincides with the sector’s crucial half-yearly closing period.

The strike has been called by the United Forum of Bank Unions (UFBU), which claims to represent nearly 90 per cent of the country’s banking workforce.

The unions are pressing for the implementation of a five-day banking week, along with pension-related reforms and other employee welfare measures.

In a bid to reduce inconvenience to customers, the government has directed public sector banks to remain open on Sunday, September 27, enabling customers to complete urgent transactions before the strike begins.

State Bank of India (SBI) has issued an advisory stating that while it will make efforts to maintain essential services at branches and offices, some banking operations could be affected during the strike period.

The bank has urged customers to complete critical transactions ahead of time and make use of digital banking channels, including YONO, internet banking, mobile banking, UPI, ATMs and cash deposit machines, wherever possible.

Bank of India has also alerted customers about the planned strike and advised them to rely on the bank’s round-the-clock digital platforms such as internet banking, mobile banking, ATMs, business correspondent points and UPI services for their banking requirements.

Regional Rural Banks (RRBs) are also expected to participate in the agitation, potentially widening the impact on banking services across the country.

However, new-generation private sector banks such as ICICI Bank, HDFC Bank, Axis Bank and IndusInd Bank are expected to continue normal operations, offering customers an alternative for routine banking services during the strike period.

Earlier this week, the Finance Ministry appealed to bank employees’ unions to avoid the strike and resolve pending issues through dialogue. The ministry maintained that a majority of the concerns raised by the unions have already been substantially addressed.

Mumbai, Sep 26: The Indian equity benchmarks posted notable losses for the seventh consecutive week, as crude prices stayed elevated and US bond yields surged.

Nifty declined 0.88 per cent during the week and added 0.34 per cent on the last trading day to reach 23,140. At close, Sensex was up 315 points, or 0.43 per cent, at 73,895. It lost 0.54 per cent during the week.

Markets came under heavy selling pressure midweek as benchmarks slid over 1.6 per cent on Thursday before a modest rebound on Friday driven by value buying.

Brent crude stayed above the $105-per-barrel mark for most of the week, while WTI crude also remained elevated above $90 per barrel amid continued geopolitical uncertainty and concerns over global oil supplies.

However, oil prices moderated toward the end of the week, and eased global risk sentiment, concerns of pressure on the import bill, inflation expectations, the rupee and corporate input costs.

Analysts said that the global bond market continued to add pressure, with the US 10-year Treasury yield moving above 5.10 per cent during the week. Elevated yields continue to tighten global financial conditions and can reduce the relative attractiveness of emerging market assets, they added.

Foreign institutional selling has intensified significantly compared with previous weeks and has become a major headwind for domestic equities.

Meanwhile, Iran has submitted a new seven-day proposal to the United States to end the ongoing conflict and reopen the strategically important Strait of Hormuz if Washington lifts its naval blockade, waives oil sanctions and agrees to a broader ceasefire.

The 23,000 zone remains the immediate support area for Nifty, while the 23,200 region remains the immediate resistance zone, said analysts.

Market participants are also keen on the trajectory of rupee, with persistent oil-related demand for dollars and continued FII outflows potentially keeping the currency under pressure, although RBI intervention has helped contain excessive volatility.

New Delhi, Sep 25: LG Electronics India Ltd has received a show cause notice from the Customs authorities for the recovery of Rs 153.58 crore as customs duty for allegedly not including royalty payments in the assessable value of certain imported goods, the company has stated in a stock exchange filing.

The show cause notice has been issued following an investigation carried out by the Directorate of Revenue Intelligence (DRI), alleging non-inclusion of royalty payments in the assessable value of certain imported goods.

The notice, dated September 22, was issued by the Office of the Commissioner of Customs, Nhava Sheva Port in Navi Mumbai, and was received by the company on September 24.

Meanwhile, LG Electronics, along with arch rival and compatriot Samsung, are also facing an investigation for alleged wrong ⁠claims of concessional 5 per cent customs duty on imported OLED glass screens. The DRI authorities have expressed the view that the concessional rate is meant for the older LCD and LEDs used in products sold in the mass market. For OLED parts, the Directorate of Revenue Intelligence is of the opinion that both Samsung and LG should have paid a 15 per cent customs duty, according to a Reuters report.

LG Electronics is reported to have sent responses to written questions by the authorities on its OLED imports and has voluntarily deposited the money to pay for the difference in customs duty as estimated by officials.

Meanwhile, LG Electronics India reported a 27.2 per cent year-on-year surge in net profit to Rs 653 crore for the first quarter of financial year 2026-27compared with the corresponding figure of Rs 513 crore in the same quarter of 2025-26, driven by strong summer demand and premium product sales.

The company’s revenue rose 15.5 per cent during the April-June quarter to Rs 7,233 crore compared with the corresponding figure of Rs 6,262 crore in the same quarter of the previous financial year.