Bank unions defer planned three-day strike after talks

The United Forum of Bank Unions (UFBU) deferred a planned three-day nationwide bank strike after talks with the Indian Banks Association (IBA) on September 27, meaning the action scheduled for September 28-30 will not begin Monday. The unions said the two sides would form a high-level committee to consider whether all remaining Saturdays should become bank holidays. The proposal remains under discussion, rather than settled. The UFBU announced the deferral after meeting with the IBA on Sunday. The strike had been called to press for a five-day banking week, among other demands. Banks are currently closed on the second and fourth Saturdays of each month, while other Saturdays remain working days, according to the supplied accounts. In a statement, the UFBU said the committee would consider alternatives, consult stakeholders and work toward a solution. The statement did not provide a timetable for the committee’s work or establish that the government had approved a five-day week. A Finance Ministry source was reported as denying that the government had agreed to the change.