Bank Strike Called Off After Talks Between Banks and Unions
Listen to the story
A planned three-day nationwide bank strike in India has been deferred after a meeting between the banks' association and trade unions.
The strike had been due to begin on Monday and could have caused major disruption to banking. Cash withdrawals and deposits may have suffered, along with cheque clearing, which is the process banks use to complete cheque payments.
Bank unions have been pushing for two key demands: a five-day working week for bank staff and seven-day banking services for customers. These demands are part of a wider push to modernise India's banking sector.
Following talks with the banks' association, the unions agreed to postpone the planned industrial action. This means the strike will not go ahead this week, though it has not been permanently cancelled.
Because the strike was called off, customers should be able to carry out normal banking activities without disruption for now. However, unions may still hold the strike at a later date if their demands are not met.
Bank strikes in India often affect millions of customers, since many people rely on public sector banks for everyday transactions. A nationwide strike can slow down cash access, business payments and cheque processing across the country.
Vocabulary7 words
- deferred
- moved to a later date
- withdrawals
- taking money out of a bank account
- deposits
- putting money into a bank account
- cheque clearing
- the process of completing a cheque payment
- modernise
- make something more up to date
- industrial action
- workers stopping work to demand changes
- public sector banks
- banks owned and run by the government
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Quiz
Answer key
1. After a meeting between the banks' association and unions 2. Cash withdrawals, deposits and cheque clearing 3. True
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
A planned three-day nationwide bank strike in India has been _____ after a meeting.
The strike had been due to begin on _____.
Cash withdrawals and _____ may have suffered.
Cheque _____ is the process banks use to complete cheque payments.
Bank unions have been pushing for a five-day working _____ for staff.
They also want seven-day banking services for _____.
These demands are part of a wider push to _____ India's banking sector.
The unions agreed to postpone the planned industrial _____.
Customers should be able to carry out normal banking activities without _____.
Unions may still hold the strike at a later _____.
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