Bank unions call off 3-day strike after assurances, IBA to study demands
Indian bank unions called off a planned three-day strike after the Indian Banks Association agreed to form a high-level committee to examine demands for a five-day work week. The breakthrough came late at night following government orders for bank branches to remain operational over the weekend.
Why it matters
A major banking strike in India would disrupt financial services for millions of customers and impact commercial activity nationwide.
NEW DELHI: Bank unions called off their proposed three-day strike just before midnight after the Indian Banks Association agreed to look into their demands."A high-level committee of IBA and UFBU (United Forum of Bank Unions) will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays.
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