Nationwide Bank Strike in India Threatens Four-Day Service Disruption
· Business · India Today, The Hindu
Banking services across India face severe disruptions on Friday as employee unions launch a nationwide strike to demand a five-day working week and pension reforms. Since Friday is followed by regular weekend bank holidays and Monday marks Ganesh Chaturthi in several states, branch operations could remain closed for up to four days. The State Bank of India issued advisories stating it has made arrangements to maintain normal operations, though customer transactions at public sector branches are expected to be impacted. The United Forum of Bank Unions has also threatened a subsequent three-day strike starting September 28 if their demands are left unresolved. The unions are additionally pressing for pension updates, a uniform dearness allowance formula, and the option to switch to the old pension scheme.
Why it matters
A multi-day closure of public sector banks halts cash deposits, cheque clearings, and loan processing for millions of retail and corporate customers across India.
Read the original report — India Today
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