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Deferred Bank Strike Keeps Indian Banks Open This Week
Bank employees had planned a three-day strike.
Their unions and the Indian Banks’ Association discussed the issue and agreed to delay the strike.
Because of this, most public-sector and private banks are expected to stay open on Tuesday and Wednesday.
Cooperative banks also said they would remain open.
The employees are asking for a five-day work week.
They also have concerns about a Performance Linked Incentive scheme.
A committee will study these issues and look for an agreement.
Banks will close on October 2 for Mahatma Gandhi Jayanti.
Online banking should still work on that holiday.
The article’s headline says October 29-30, while its main text refers to September 29-30.
The United Forum of Bank Unions deferred its proposed three-day strike after talks with the Indian Banks’ Association.
Public-sector banks including State Bank of India, Canara Bank and Punjab National Bank are expected to remain open on Tuesday and Wednesday.
Private lenders including HDFC Bank, ICICI Bank, Yes Bank and Axis Bank are also expected to operate normally.
Cooperative bank organizations said their banks would not participate in the proposed strike and would remain open.
Banks will be closed on October 2 for Mahatma Gandhi Jayanti, although digital banking services will remain available.
- Who
- The United Forum of Bank Unions, the Indian Banks’ Association, public-sector banks, private banks and cooperative banks.
- What
- A proposed three-day bank strike was deferred, so banks are expected to remain open on the following Tuesday and Wednesday.
- Where
- Across India.
- When
- The article’s main text refers to Monday, September 28, and Tuesday-Wednesday, September 29-30; its headline refers to October 29-30.
- Why
- The strike was proposed over demands including a five-day work week and concerns about the Performance Linked Incentive scheme; the unions and the IBA agreed to form a committee to seek a solution.
Bank Unions
Banking Association
Workweek and incentives
Bank Unions
The United Forum of Bank Unions is pressing for a five-day work week and has raised concerns about the Performance Linked Incentive scheme.
Banking Association
The Indian Banks’ Association is discussing these concerns with the unions through a high-level committee and has not been described as accepting the demands.
Strike action
Bank Unions
The unions proposed a three-day strike but deferred it after reaching an understanding with the Indian Banks’ Association.
Banking Association
The Indian Banks’ Association agreed to participate in further discussions aimed at finding a solution acceptable to stakeholders, including customers.
Key facts
- Strike status
- The proposed three-day strike was deferred.
- Public-sector banks
- State Bank of India, Canara Bank, Punjab National Bank and other public-sector banks are expected to remain open.
- Private-sector banks
- HDFC Bank, ICICI Bank, Yes Bank and Axis Bank are expected to operate normally.
- Cooperative banks
- Cooperative bank organizations said they would not participate in the strike.
- Main demands
- A five-day work week and concerns over the Performance Linked Incentive scheme.
- Holiday closure
- Banks will be closed on October 2 for Mahatma Gandhi Jayanti.
- Digital services
- Digital banking services will remain available on the holiday.
- Date discrepancy
- The headline says October 29-30, while the article text says September 29-30.
Sources
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