From The Economic Times · PTI · · 1m 30s
Finance Ministry prepares for 3-day bank strike
India's government meets with bank chiefs to keep services running during a major labor action starting September 28.
In brief
India's government meets with bank chiefs to keep services running during a major labor action starting September 28. The Finance Ministry is coordinating with bank leaders to maintain essential services during a planned three-day strike by bank unions demanding a five-day work week and improved pension benefits…
Bank unions call 3-day strike
The United Forum of Bank Unions announced a nationwide strike starting September 28 to demand a five-day work week and improved pension benefits for banking employees.
Strike could disrupt services for 5 days
The three-day strike coincides with a weekend holiday, potentially affecting banking services for five consecutive days and the sector's half-yearly closing period.
Finance Ministry calls emergency meeting
The Department of Financial Services Secretary will meet with chief executives of public sector banks and regional rural banks on Monday to plan contingency measures.
Focus on essential customer services
The meeting will discuss how to maintain continuity of banking operations and ensure customers retain access to essential facilities during the strike period.
Union demands include pension reforms
UFBU, representing 90 percent of banking workers, also demands updated pensions, uniform dearness allowance for all pensioners, and an option to switch from the National Pension System to the old pension scheme.
Previous strike caused major disruption
A September 11 strike by bank unions halted work at 7,000 branches in Madhya Pradesh alone, affecting business worth 5,500 crore rupees.
The main idea
The Finance Ministry is coordinating with bank leaders to maintain essential services during a planned three-day strike by bank unions demanding a five-day work week and improved pension benefits.
