A planned three-day bank strike in India has been deferred after discussions between bank unions and the Indian Banks’ Association (IBA). The strike had been scheduled to begin on September 28, with employees raising concerns including the demand for a five-day working week for banks. Following negotiations, the unions and the IBA reached an understanding that led to the postponement of the proposed industrial action.
The development is significant for millions of bank customers because a nationwide strike could have affected branch operations, cheque processing, cash-related services and other physical banking activities. Digital banking services such as mobile banking, internet banking and UPI would generally continue to operate, although customers could still have experienced delays in services requiring bank employees.
The issue of a five-day working week has been discussed for some time by bank employees’ organisations. Currently, banks observe holidays on the second and fourth Saturdays, while other Saturdays are working days in many cases.
The decision to defer the strike gives both sides additional time to continue discussions. Customers are therefore less likely to face disruption from the proposed three-day strike at this stage.
